Strong Results Support European Shares Amid Ukraine Tensions

European shares rose on Thursday as strong results for a number of companies, including Airbus, Kering, and Commerzbank, boosted risk appetite, dispelling investor fears of renewed tensions surrounding Ukraine.

The pan-European Stoxx 600 index rose 0.2 percent, the French CAC rose 0.6 percent, the German DAX rose 0.3 percent, and Britain’s FTSE fell 0.2 percent.

Shares of French luxury goods company Kering jumped 5.4 percent after the company announced significant growth in sales in the fourth quarter, with the increase in sales of its famous Gucci brand.

Rivals Louis Vuitton and Hermes also rose 1 percent.

Commerzbank shares rose 5 percent after the bank reported better-than-expected fourth-quarter results and an optimistic outlook for the new year.

Airbus shares also rose 1.2 percent after the world’s largest airline expected to sell 720 planes and increase profits in 2022.