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European shares are rising as a result of optimistic outlook from SAP, the China Rally

© Reuters. The DAX chart of the German stock index is shown on the Frankfurt stock exchange

(Reuters) – European stocks rose on Thursday when software giant SAP signaled a recovery in its business due to a corona virus hit, while optimism about China's recovery helped Germany outperform.

The broader European stock index () rose 0.3% in early deals.

SAP (DE 🙂 rose 6.5% after the German group confirmed its full-year outlook and said business was gradually improving in the second quarter due to the effects of a global lockout.

Denmark Pandora (CO 🙂 rose 1.2% after raising its second quarter earnings forecast. Consumers have returned to stores faster than expected.

Miners (), luxury stocks, and automakers () exposed in China all rose and comforted themselves as a rally in Shanghai stocks extended to day eight, hoping for a faster recovery in the world's second largest economy. (.SS)

The shares listed in Frankfurt () outperformed their European competitors with an increase of 0.9% as German exports picked up again in May due to the lifting of the blocking measures.

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