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European shares rise after SAP's reassuring outlook
Published at 09/07/2020 at 08:29

(For a live blog on European stocks, type LIVE/ in an Eikon news window)

July 9 (Reuters) - European stocks rose on Thursday as software giant SAP signalled a rebound in its business from a coronavirus hit, while optimism over China's recovery helped Germany outperform.

The broader European equities index rose 0.3% in early deals.

SAP jumped 6.5% after the German group confirmed its full-year outlook and said business activity gradually improved in the second quarter from the effects of a global lockdown.

Denmark's Pandora gained 1.2% after it lifted its profit forecast for the second quarter, saying consumers had returned to shops faster than expected.

China-exposed miners , luxury stocks and automakers

all rose, drawing comfort as a rally in Shanghai shares extended to the eighth day on hopes of a faster recovery for the world's second largest economy.

Frankfurt-listed shares outperformed its European peers with a 0.9% jump, as data showed German exports rebounded in May, spurred by the lifting of lockdown measures.

(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)

((sruthi.shankar@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2787;))