German shares lead Europe higher after Siemens' profit beat
German shares led the gains among European stocks at the open on Thursday as Siemens jumped after posting an upbeat quarterly profit, while investors awaited the UK budget, which is expected to restore confidence in Britain's economy. Germany's DAX index rose 0.9%, while the continent-wide STOXX 600 index gained 0.3% by 0810 GMT.
German shares led the gains among European stocks at the open on Thursday as Siemens jumped after posting an upbeat quarterly profit, while investors awaited the UK budget, which is expected to restore confidence in Britain's economy.
Germany's DAX index rose 0.9%, while the continent-wide STOXX 600 index gained 0.3% by 0810 GMT. Siemens jumped 7.2% after the engineering and technology group also said its factory hardware and software continued to witness strong demand.
The European industrial goods index added 0.8%. Britain's finance minister Jeremy Hunt is expected to announce spending cuts and tax raises at the Autumn Statement later in the day, which he and Prime Minister Rishi Sunak say are needed to restore investor confidence after the former government's failed "mini budget" less than two months ago.
London's FTSE 100 index was 0.2% lower ahead of the announcement, which is due at about 1130 GMT.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Germany
- Rishi Sunak
- FTSE
- German
- Britain
- European
- Jeremy Hunt
- Autumn
- London
- Siemens
ALSO READ
ANALYSIS-Climate verdict for Swiss women a warning for European states, oil industry
Athletics-Ujah recalled to Britain's relay squad after serving doping ban
EU, Britain and Spain to hold more talks on post-Brexit status of Gibraltar
Blue-chips power European stocks higher on rate cut hopes
European court ruling puts cautious Swiss in climate bind