The company said Tuesday it would meet its profit target for this year, prompting brokerages including Merrill Lynch & Co and Deutsche Bank AG to raise their recommendation on the stock the following day.
Today, a US judge approved the company's US$1.3 billion settlement of 130,000 asbestos-related lawsuits, paving the way for the sale of the company's oil-services unit, which was facing claims.
BT Group Plc, the biggest UK phone company, was the Stoxx 50's largest decliner this week after it said sales in the three months through June dropped from the previous quarter. The figure overshadowed a 27 percent jump in net income, the company's fifth straight quarterly profit. The shares fell 5.9 percent.
Hagemeyer NV, the largest supplier of industrial safety products in the US, slid 19 percent in the week. On Thursday, the company reported a first-half loss, compared with a profit a year earlier, after sales fell and it set aside money to pay for job cuts.
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