European shares open at the highest level in two weeks

European shares recorded their highest level in two weeks at the open on Thursday, after the rise of the Wall Street Stock Exchange in the evening affected by an unexpected increase in the profits of the Swedish retail giant H & M and the dispelling of concerns about pressures in the banking sector.

And by 0708 GMT, the European Stoxx 600 index rose 0.6 percent, its highest level since March 13, in the wake of the rise of the main US stock indexes on Wednesday.

H&M shares jumped 7.3 percent after the world’s second-largest fashion retailer reported an unexpected operating profit for the December-February period. But she warned that the cold weather had hampered overall sales for the spring season.

The sub-index of retail stocks rose 1.8 percent.

The European banking sector index rose 0.4 percent, its highest level in a week, as investor confidence was boosted after the sale of the assets of the collapsed Silicon Valley Bank and the acquisition of Credit Suisse.

The real estate sector index rose 2.3 percent, extending its gains, after falling to a five-month low this week.

Danish wind turbine maker Vestas rose 4.9 percent after winning an order in Brazil.