European Shares Rise on Positive Earnings Reports

European stocks rose after Asian markets rose on optimism about the Chinese economy, while sentiment was supported by positive earnings reports from the Minera Rio Tinto and Logitech, a maker of computer accessories.

The European STOXX 600 index gained 0.4%, while the German DAX and the French CAC 40 index rose 0.4%, and the London blue-chip index increased 0.7%.

Shares of Rio Nintendo in the United Kingdom rose 1.4% after the company announced a 2.4 % increase in iron ore shipments in the fourth quarter, supported by industrial activities in the world’s largest consumer of ore, China.

Logitech shares jumped 6.9% after the company raised its forecast for 2021 sales and profit growth for the third time, taking advantage of boosted demand driven by the pandemic for work-from-home products and gaming accessories.