European Stocks Rising Thanks to Optimism About Earnings And Hopes For a Recovery

European stocks rose on Monday amid slight trading due to a bank holiday in Britain, while sentiment remained positive on hopes of a quick economic recovery and a strong earnings season.

The pan-European STOXX 600 index rose 0.2% on its first trading day in May. The benchmark index closed up 1.8% in April, narrowing by just a slight margin from an all-time high.

Data showed that German retail sales in March recorded the largest year-on-year increase since the start of the Covid-19 pandemic, with some isolation measures eased, raising purchases of clothes and shoes.

German medical technology company Siemens Healthcare added 1.9% after raising its full-year sales and profit forecasts.

Wind turbine maker Siemens Gamesa fell more than 3.5% after it warned that this year’s earnings may fall short of expectations.