Technology Stocks And Corporate Earnings Lift European Stocks

European stocks rose as gains in technology stocks and positive earnings reports helped investors bypass the possibility of extending lockdown measures at a time when many countries are fighting the emergence of new strains of the emerging coronavirus.

The pan-European STOXX 600 index rose 0.4%. The benchmark index ended last week almost unchanged after data showed that the service sectors dominating Europe were hit hard by renewed lockdown measures in January.

Technology stocks posted the largest gains, with their US peers trading near all-time highs. Dutch tech investor jumped 7.9%.

Incorporate earnings, Dutch healthcare technology company Philips Healthcare climbed 2.3% after it announced a 7% increase in base profits for the fourth quarter.

Shares in Siemens Energy, a manufacturer of turbines in the electricity sector, rose 2.4% after turning into a core profit in the first quarter of the fiscal year.