2023-11-22 18:29:59
European stocks hit a two-month high on Wednesday, led by interest rate-sensitive real estate shares, while British software company Sage jumped to a record high after reporting strong annual operating profits and announcing a share buyback plan.
The European STOXX 600 index closed 0.3 percent higher, with real estate stocks leading the gains and rising 1.5 percent.
Meanwhile, the Eurozone stock market volatility index reached its lowest level since July.
Eurozone bonds were little changed.
Sage shares jumped 13.3 percent to top the STOXX 600 index after the company announced an 18 percent increase in core operating profits for the full year, and said that profits will continue to increase this year. The company also announced a share buyback program worth 350 million pounds.
ThyssenKrupp shares rose 6.6 percent after the German group, which works in areas from submarines to steel, announced full-year results with “strong” free cash flow.
German fashion house Hugo Boss shares rose three percent after Deutsche Bank and Bank of America Global Research raised their ratings for the company.
In Italy, Monte dei Paschi shares rose 2 percent after it fell 7.9 percent yesterday, Tuesday, as Italy sold a 25 percent stake in the bank that managed to be saved. At the same time, Moody’s raised its rating on the bank by one notch and confirmed its positive outlook on it.
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