On Thursday, the two-day rally European stocks picked up some more momentum as investors forgot about U.S. inflation and moved their focus back to company earnings.

The pan-European STOXX 600 gained 0.8 percent by 0933 GMT, reaching its highest level in a week. The main European stock index remained lower from its late January 2 ½ year high, down 6.5 percent.

Earnings were back front and center, with strong results driving the top gainers Airbus, Ipsen, Aegon, and Schneider Electric.

Airbus shares soared 8.8 percent following Europe’s largest aerospace firm surpassing both profit and earnings expectations.

Schneider Electric was a main CAC 40 gainer, which rose 5 percent following the electrical equipment producer report of a strong profit margin.

Shares Aegon climbed 3.7 percent following the report reported of doubling quarterly net income and raising its estimates for future earnings.

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NN Group shares dropped 3 percent follow the company reported that profit was lower than the forecast of analysts.

Nestle fell to a 10-month low, down 2.4 percent after the company reported last year’s organic growth was its weakest in over twenty years.

The bank and insurance firm Old Mutual and the mining company Anglo American made it to the top of Britain’s FTSE 100 after South Africa’s President Jacob Zuma resigned, which resulted in the rand coming close to three-year highs. Both firms stem much of their revenue in South Africa, where the parliament was set to endorse Cyril Ramaphosa as the new president on Thursday.

Germany-listed shares in South African retailer Steinhoff climbed 10 percent to the top of the STOXX after the company announced it would hold its annual shareholders’ meeting on April 20.

In general, fourth-quarter earnings for European firms are projected to rise 14.6 percent from the year before, according to data.
“Earnings estimates have also been raised, so that’s definitely one of the supporting factors of the rally,” Lukas Daalder, chief investment officer of an investment firm.