Friday, September 22, 2023
Homeeurope marketsEurope shares close higher for 2nd day on tech boost

Europe shares close higher for 2nd day on tech boost

European shares closed higher on Tuesday, as a slew of corporate earnings and positive data from Nokia spurred a rally in .

The pan-European FTSEurofirst 300 Index provisionally closed higher by 1.2 percent at 1,352.06 points on Tuesday.

Late during the day, Siemens announced it was ready to make an offer for France's Alstom, so long as the latter granted it access to company data and permission to interview management to enable due diligence. Shares in Siemens closed higher by 0.6 percent; trade in Alstom shares is suspended until Wednesday.

Read MoreSiemens will make an offer to Alstom

Meanwhile, Nokia shares rose 2.9 percent after the company reported a promising profit rise in its networks business—now the core part of its business, following the sale of its handset unit to Microsoft.

Deutsche Bank, one of Germany's largest financial corporations, announced a better-than-expected first-quarter net profit of 1.08 billion euros ($1.5 billion) on Tuesday, as its core fixed income business slumped by less than expected; shares rose by 2.2 percent.

Oil giant BP announced it is hiking its dividend after announcing a fall in profit in the first quarter fall due to higher costs in searching for oil. Shares closed higher by 2.9 percent.

Read MoreBP profits fall as costs rise, hikes dividend

Meanwhile, shares in Peugeot Citroen closed higher by around 10 percent after the French carmaker launched the second part of a 3 billion euro ($4.2 billion) capital increase to fund its recovery plan and deal with China's Dongfeng.


Most Popular