Tech shares, corporate earnings lift European stocks

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European stocks rose on Monday as gains in technology shares and upbeat earnings reports helped investors look past the possibility of extended lockdowns as many countries grapple with new variants of the novel coronavirus.

The pan-European STOXX 600 index rose 0.4% by 0810 GMT. The benchmark ended last week almost flat after data showed Europe’s dominant service sectors took a hard hit from renewed lockdowns in January.

In corporate earnings, Dutch health technology company Philips gained 2.3% after it reported a 7% increase in fourth-quarter core profit.

 

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