European Shares Rise After Strong Results Overshadowed Doubts About US Stimulus

European stocks rose on Wednesday after reports of optimistic results from British Tesco and the German Dialog Semiconductor helped reduce the impact of uncertainties surrounding a new US stimulus program.

The pan-European STOXX 600 index rose 0.2%.

Asian stocks and US equity futures also recovered from sharp losses on Wall Street after US President Donald Trump suddenly announced he was halting talks with Democrat lawmakers over the post-presidential stimulus program.

Dialog Semiconductor shares jumped 5.4% to top the STOXX 600 index after the company forecast more than expected revenue in Q3.

Tesco, Britain’s largest grocery chain, gained 3.6% after the company reported a sales jump and expected operating profits for its retail business to be no less than a full year below their level in 2019-2020.