German stocks advanced on Thursday, with strong earnings updates and signs of progress toward U.S. stimulus helping underpin sentiment.
Meanwhile, Italian government bond yields edged up as former European Central Bank chief Mario Draghi agreed to help form a new government.
The German DAX rose 77 points, or 0.6 percent, to 14,010 after rising 0.7 percent in the previous session.
Bayer AG surged 5.1 percent after the chemical company announced a formal agreement with plaintiffs’ class counsel on a class plan designed to manage and resolve future Roundup cases.
Deutsche Bank fell 2.5 percent despite the lender reporting a small annual profit in 2020, its first since 2014, on higher revenues and cost reductions at its investment banking division.
Cancom shares soared 9 percent. The IT service management company reported consolidated revenues of around EUR 1.69 billion in the 2020 financial year, representing a year-on-year improvement of 9.3 percent.
Reinsurer Hannover Re Group gained 1 percent after it reported an average price increase of 5.5 percent on renewed business at the January 1st, 2021 renewals.
Semiconductor manufacturer Infineon Technologies rallied 2 percent after reporting higher revenue and net profit for the first quarter of fiscal 2021.
DAX Rises On Earnings
2021-02-04 09:13:58
