Business

European shares rise after SAP’s reassuring outlook

Business

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.

FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 6, 2020. REUTERS/Staff

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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 rose 0.3per cent in early deals.

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SAP jumped 6.5per cent 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 gained 1.2per cent after it lifted its profit forecast for the second quarter, saying consumers had returned to shops faster than expected.

China-exposed minRead More – Source