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European shares rise after SAP's reassuring outlook

Published 07/09/2020, 03:29 PM
Updated 07/09/2020, 03:30 PM
© Reuters.
DE40
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SAPG
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PNDORA
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July 9 (Reuters) - European stocks rose on Thursday as
software giant SAP signalled a rebound in its business from a
coronavirus hit, while optimism over China's recovery helped
Germany outperform.
The broader European equities index .STOXX rose 0.3% in
early deals.
SAP SAPG.DE jumped 6.5% after the German group confirmed
its full-year outlook and said business activity gradually
improved in the second quarter from the effects of a global
lockdown. Denmark's Pandora PNDORA.CO gained 1.2% after it lifted
its profit forecast for the second quarter, saying consumers had
returned to shops faster than expected.
China-exposed miners .SXPP , luxury stocks and automakers
.SXAP all rose, drawing comfort as a rally in Shanghai shares
extended to the eighth day on hopes of a faster recovery for the
world's second largest economy. .SS
Frankfurt-listed shares .GDAXI outperformed its European
peers with a 0.9% jump, as data showed German exports rebounded
in May, spurred by the lifting of lockdown measures.


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