(Reuters) – European stocks nearly hit an all-time high on Tuesday thanks to optimism around several countries easing economic restrictions, a falling unemployment rate in the UK and good corporate results.
The pan-European STOXX 600 index rose 0.7% at 7:16 a.m. GMT, trading slightly less than its record last week, with cyclical sectors linked to the economy like miners and automakers leading the earnings.
Germany’s DAX rose 0.8% to an all-time high, while Italy’s FTSE MIB added 0.8% to new pre-pandemic highs.
Milan-listed Stellantis shares rose 1.3% before the Foxconn ties were announced.
The world’s largest hearing aid maker Sonova Holding jumped 8.5% after predicting strong growth this year due to a market recovery and new products.
Meanwhile, Vodafone fell 7.2% after the UK mobile operator reported a 1.2% drop in full-year adjusted profits as COVID-19 hit roaming revenues and handset sales.
Reporting by Sruthi Shankar in Bengaluru; Edited by Arun Koyyur