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STOXX HEADS HIGHER, SET FOR WEEKLY GAIN

Europe's STOXX 600 is up 0.4% on Friday, moving into positive territory for the week, although a raft of earnings are painting a mixed picture.

Sweden's Saab SAABb.ST is up 13% after its earnings, taking year-to-date gains for the defence group to 131%. The STOXX Europe Aerospace and Defence Index .SXPARO is up 0.8% on Friday and up 57% for the year.

Compatriot Electrolux ELUXb.ST is down 14% as the appliance maker flagged weak performance in Europe.

Breadth is positive with advancers outpacing decliners in the pan-European benchmark by about 3.6:1.

Elsewhere, GSK GSK.L shares are slumping over 6% after its blood cancer drug Blenrep failed to win backing from a U.S. FDA advisory panel, with a formal decision expected next week.

Here's your opening snapshot:

(Samuel Indyk)

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