European stocks opened on a strong note Monday, after having suffered their worst weekly performance this year last week on concerns the Federal Reserve will keep raising rates to tame inflation.
The economic calendar remains light today, with a report on euro area consumer confidence for February awaited later in the day.
The pan-European STOXX 600 rose about 1 percent to 462.06 after falling 1 percent on Friday.
The German DAX and France’s CAC 40 index both rallied around 1.3 percent, while the U.K.’s FTSE 100 was up 0.9 percent.
British outsourcing specialist Bunzl rallied 2.6 percent after reporting a jump in pre-tax profits.
Auto and aircraft parts supplier Senior Plc added 1.2 percent after it returned an annual adjusted profit from a loss in the year-ago period.
Primark owner Associated British Foods gained 1.3 percent after delivering strong first-half performance and lifting its FY23 earnings view.
Airbus gained 1.4 percent in Paris. The plane maker, in its latest study of future demand, stated that airlines based in the Pacific region will need delivery of 920 new aircraft over the next 20 years.
Thales Group shares were up around 1 percent. The maker of electrical systems and devices announced that it is continuing its recruitment initiative in 2023 with a plan to hire over 12, 000 staff around the globe.
Business News
European Shares Gain Ahead Of Consumer Confidence Data
2023-02-27 09:27:55
