European shares rise on recovery hopes, technology shares gain

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

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Feb 2 (Reuters) - European shares rose on Tuesday as investors were hopeful of a faster economic recovery, while technology shares led the advance after French IT consulting group Atos ended talks of a potential takeover of U.S. rival DXC Technology.

Shares in Atos SE ATOS.PA gained 5% after the firm said it has decided to discontinue talks about a potential $10 billion acquisition of DXC Technology Co DXC.N . European technology sector .SX8P rose 1.4%, while the STOXX 600 index .STOXX gained 0.8%.

An upbeat mood from Asian markets spilt over to Europe in early trading on hopes of more stimulus for the U.S. economy. MKTS/GLOB

Investor focus also remained on earnings reports from across Europe, with Fresenius Medical Care FMEG.DE tumbling 12% after the world's No.1 kidney dialysis firm warned its adjusted net profit would likely drop this year. BP.L plunged 4% after its profit in the last quarter of 2020 sunk to $115 million due to weak energy demand and poor trading results.

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