European shares rise on earnings, recovery hopes

  • Reuters
  • Stock Market News
European shares rise on earnings, recovery hopes
Credit: © Reuters.

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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. 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. 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. 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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