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April 27 (Reuters) - European shares rose on Monday, as
airline stocks soared on hopes of state support, while a slew of
upbeat earnings added to optimism over signs many countries
would soon ease tough lockdown measures.
Shares of Lufthansa LHAG.DE jumped 7.2%, with Berlin
expected to decide on state support, while Air France KLM
AIRF.PA rose 5.2% after the government said it would give a
7-billion-euros ($7.6 billion) aid package. Positive quarterly reports also helped. German drugs and
pesticides company BAYGn.DE gained 2.8% and Deutsche Bank
DBKGn.DE jumped 7.7% after their first-quarter earnings topped
market expectations. The pan-European STOXX 600 .STOXX rose 1.7% by 0720 GMT,
following gains in Asian markets after the Bank of Japan pledged
to buy unlimited amount of bonds to keep borrowing costs low.
The European benchmark ended with weekly losses on Friday,
hit by the lack of details in a trillion-euro emergency fund
agreed by the euro zone leaders. However, investors are pinning
hopes on further stimulus expansion by the European Central
Bank, which is scheduled to meet on Thursday.
Shares in Adidas ADSGn.DE , however, fell 1.6% as it
reported a 93% plunge in first-quarter profit, and warned of a
deeper hit to second-quarter revenue as lockdowns forced it to
close stores.