(Reuters) – European stocks rose for the third session on Wednesday as focus remained on a profit-laden day, with positive sentiment spreading across Asian markets in hopes of a faster global economic recovery .
Siemens rose 1.8% as the German engineering firm raised its outlook for 2021 after beating first-quarter expectations due to a faster-than-expected recovery from the COVID-19 slowdown in China and Germany.
The German DAX index gained 0.8%, while the STOXX 600 index rose 0.9%.
Novo Nordisk added 3.2% after the diabetes drug maker gave optimistic sales and profit forecasts for 2021.
All major European sector indices were in positive territory at the start of the session.
Swedish truck maker AB Volvo rose 0.7% after reporting better-than-expected fourth-quarter core earnings, upping its outlook for some of its key markets and generating a large payout to shareholders.
Markets remained bullish for US President Joe Biden’s proposed $ 1.9 trillion COVID-19 aid bill as Senate moves to allow Democrats to pass Biden’s package without the support of Republicans. [MKTS/GLOB]
Report by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta