European shares: European shares rise on tech rebound; Remy Cointreau hits new high

European shares rose on Thursday as a rebound in hard-hit technology stocks and a surge in French spirits maker Remy Cointreau helped offset worries about soaring coronavirus cases across the continent.

The Europe-wide STOXX 600 index rose 0.4 per cent by 0809 GMT, bouncing off three-week lows hit on Wednesday.

Remy Cointreau jumped 9.9 per cent to a record high after it raised full-year profit outlook as strong demand for its premium cognac drove a stronger-than-expected operating profit in the first half.

Technology stocks rose 0.9 per cent, their first session of gains in six days, after rising bond yields hit the high-growth sector earlier this week.

Germany’s DAX rose 0.4 per cent, also coming off a three-week low even though data showed a weaker-than-expected German economic expansion in the third quarter and tepid consumer sentiment ahead of Christmas shopping season.

Radiation therapy equipment maker Elekta gained 8.1 per cent after it reported a smaller-than-expected fall in August-October earnings amid a growing need for cancer care and radiotherapy.

Source Link