European Shares Rise After Strong Gains For Siemens

European shares extended gains on Thursday, a day after achieving their best session since the beginning of the year, boosted by the rise of German shares that received a boost from strong quarterly earnings growth for Siemens.

Siemens shares jumped 7.3 percent after the company said it was seeing “extraordinary” orders from its consumers.

The German DAX index rose 0.7 percent, topping the region’s market indices, and the pan-European Stoxx 600 index rose 0.5 percent.

The industrial goods and services sector index rose 1.3 percent, while the health care sector index rose 0.8 percent, after AstraZeneca achieved strong quarterly profits, as well as announced promising expectations.

And the British pharmaceutical company’s shares rose 3.7%, after expectations of higher sales in 2022, following better-than-expected quarterly profits, after receiving support from treatment for Covid-19 disease.

Shares of the French Bruno Ricard group rose 2.6 percent to support the rise of blue-chip stocks in the eurozone, with the company expecting strong sales growth in the 2022 fiscal year.

Investors are also awaiting important US inflation data later Thursday.