European shares head higher on upbeat earnings

  • 2/10/2021
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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 10 (Reuters) - European shares rose on Wednesday as a set of upbeat quarterly earnings reports from firms including SocGen helped boost optimism around a faster vaccine-led economic recovery this year. France’s Societe Generale gained 2.9% after it beat profit forecasts for the fourth quarter, as charges related to the COVID-19 pandemic came in lower than expected. The STOXX 600 index rose 0.3% with commodity-linked shares and banking stocks leading gains. Most European indices were higher in early trading. Dutch Bank ABN Amro dropped 1.3% even as it reported a better-than-expected fourth-quarter net profit. German conglomerate Thyssenkrupp added 5.8% after it raised its full-year outlook citing improved demand, while online takeaway food company Delivery Hero was up 0.3% after reporting a 95% surge in full-year revenue. German’s DAX rose 0.1%. The world’s largest container shipping line Maersk was down 5.6% even after saying that a surge in demand for container shipping would boost earnings in the first quarter. (Reporting by Shashank Nayar in Bengaluru; Editing by Shounak Dasgupta)

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