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SAP and LVMH Earnings Push European Stocks Higher

Adel 14 April, 2021 1:12 pm Global Stock Market, Market Update

European stocks rose on Wednesday, as positive business results for German software company SAP and French luxury goods maker LVMH offset fears of a possible setback for the COVID-19 vaccination program on the continent.

The European Stoxx600 index rose 0.1%, with shares of the technology and personal and household goods sectors among the biggest gainers.

SAP shares rose 2.6% after raising earnings expectations for the current year following the announcement of first-quarter results that showed gains in cloud computing sales.

LVMH advanced 2.5% after sales rebounded faster than expected in early 2021 as shoppers in the United States and China took advantage of the easing of COVID-19 restrictions.

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