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Techs boost STOXX to one-week high; euro zone data on tap
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Techs boost STOXX to one-week high; euro zone data on tap
Apr 23, 2024 12:41 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

April 23 (Reuters) - European stocks scaled on Tuesday

to their highest levels in more than a week, driven by the

technology sector as investors found comfort in upbeat corporate

earnings, while UK's FTSE 100 Index climbed to hit an all-time

peak.

The pan-European STOXX 600 index was up 0.6%, as of

0712 GMT, boosted by a nearly 2% jump in technology

shares.

Helping the tech sector's rise was a 4.6% gain in SAP

after the German company reported a 24% jump in

first-quarter cloud revenue at 3.93 billion euros ($4.19

billion), buoyed by demand for its enterprise resource planning

software.

Shares of Novartis added 4.6% as the Swiss

drugmaker raised its full-year outlook after reporting

first-quarter results that surpassed expectations.

On the flip side, Randstad, the world's biggest

employment agency, reported disappointing quarterly core

earnings, sending shares of the Dutch firm down 6.7% to the

bottom of the STOXX.

Later in the day, investors will parse April euro zone

purchasing manufacturer's data, that could shed light on the

state of the currency union's economic health.

Elsewhere, UK's exporter-focused FTSE 100 climbed

0.6% to notch an all-time high of 8,071.96 points.

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