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European shares rebound after three days of losses

01/11/2022 | 03:37am EDT

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

Jan 11 (Reuters) - European shares ticked higher on Tuesday, as investors returned to tech stocks after a seven-day sell-off fuelled by concerns about rising rates, while upbeat earnings from companies like HelloFresh and Delivery Hero also aided the mood.

The pan-European STOXX 600 advanced 0.9%, as of 0826 GMT, after a late-session recovery on Wall Street supported Asian equities.

European tech stocks advanced 2.1% after tumbling 3.6% to a near three-month low in the previous session.

Germany's Delivery Hero SE jumped 6.6% after saying it expects its food delivery business to break even during the second half of 2022 as demand has soared since the pandemic began.

HelloFresh leapt 4.9% after the German meal-kit delivery firm announced a share buyback programme of up to 250 million euros.

Construction chemicals maker Sika AG climbed 3.7% after reporting a 17.3% rise in 2021 sales, boosted by a raft of acquisitions and the upturn in the building industry after pandemic closures the year before.

Deutsche Bank slipped 1.8% after U.S. financial investor Cerberus, which has favoured a merger of the bank and Commerzbank, divested a large chunk of its holdings in the two top German lenders. (Reporting by Anisha Sircar in Bengaluru; Editing by Subhranshu Sahu)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 0.49% 106.92 Real-time Quote.-4.84%
COMMERZBANK AG 0.22% 7.236 Delayed Quote.8.18%
DELIVERY HERO SE -0.41% 29.43 Delayed Quote.-69.97%
DEUTSCHE BANK AG -1.37% 9.362 Delayed Quote.-15.03%
HELLOFRESH SE 2.34% 34.6 Delayed Quote.-48.77%
NOKIA OYJ 0.52% 4.608 Delayed Quote.-17.33%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
S&P 500 0.01% 3901.36 Real-time Quote.-18.14%
SIKA AG 0.79% 256.7 Delayed Quote.-32.48%
STOXX EUROPE 600 NR 0.74% 986.21 Delayed Quote.-10.24%
VOLKSWAGEN AG 0.25% 145.68 Delayed Quote.-17.92%
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