Strong earnings boost European shares amid Ukraine concerns

European shares rose on Thursday as a slew of strong earnings from companies such as Airbus, Kering and Commerzbank lifted risk appetite, helping offset investor concerns over fresh tensions surrounding Ukraine.

The pan-European STOXX 600 index gained 0.2% by 0813 GMT. France's CAC 40 added 0.6%, Germany's DAX climbed 0.3%, while UK's FTSE 100 slipped 0.2%.

French luxury goods maker Kering jumped 5.4% after the company reported sharp growth in fourth-quarter sales as marketing investments and 100th anniversary events helped boost the popularity of its top Gucci brand.


Shares in peers LVMH and Hermes gained more than 1% each.

Airbus rose 1.2% after the world's largest jetmaker predicted 720 jetliner deliveries and higher profit in 2022.

Commerzbank added 5% after the German lender swung to a better-than-expected fourth-quarter and painted a rosy outlook for 2022.

Still, the overall gains in markets were tempered as Russian media report of mortar fire in eastern Ukraine hit global equities, while lifting demand for safe-haven assets such as gold and government bonds.