European Shares Rise, Supported by Strong Earnings

European shares jumped 1% on Wednesday, supported by a batch of strong earnings data, and as investors digested news of the first Western sanctions against Russia over its crisis with Ukraine.

The pan-European STOXX 600 index rose 1.1 percent after fears of a full-blown Russian invasion of Ukraine pushed it to a seven-month low on Tuesday.

The auto sector rose 2.7 percent and led gains in Europe, with Stellantis rising 5.9 percent, after the company said adjusted operating profit margins jumped above target in the first year after the merger of Fiat Chrysler and PSA, which makes Peugeot.

French food producer Danone rose 4.4 percent after reporting stronger-than-expected sales growth in the fourth quarter of 2021.

Barclays shares rose 2.8 percent after the Bank of England nearly tripled its annual profit and responded by 2.5 billion pounds ($3.40 billion) to shareholders in 2021.

Germany-based online broker Flatex Dejero jumped 18.6 percent after a report said the company was attracting interest from private sector firms.