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European shares rise on earnings, recovery hopes

Published 03/02/2021, 09:15
Updated 03/02/2021, 09:18
© Reuters.
DE40
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SIEGn
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VOLVb
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(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window)
Feb 3 (Reuters) - European shares rose for the third session
on Wednesday as focus remained on a busy day of earnings, with
positive sentiment spilling over from Asian markets on hopes of
a faster global economic recovery.
Siemens SIEGn.DE rose 1.8% as the German engineering
company raised its 2021 outlook after beating first-quarter
expectations on faster-than-anticipated recovery from the
COVID-19 downturn in China and Germany. Germany's DAX index .GDAXI gained 0.8%, while the STOXX
600 index .STOXX rose 0.9%.
Novo Nordisk NOVOb.CO added 3.2% after the diabetes drug
maker gave upbeat sales and profit forecasts for 2021.
All of the major European sector indexes were in positive
territory in early trading.
Swedish truckmaker AB Volvo VOLVb.ST rose 0.7% after
reporting fourth-quarter core earnings above expectations,
raising its forecasts for some of its main markets and rolling
out a hefty shareholder payout. Markets remained hopeful for U.S. President Joe Biden's
proposed $1.9 trillion COVID-19 aid bill as the Senate took
steps to allow Democrats to pass Biden's package without
Republican support. MKTS/GLOB

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