European Daily Market Review

European stocks closed higher on Thursday as the mood remained positive thanks to some encouraging earnings updates and expectations of a milder-than-expected recession. European markets added some side, as most traders and investors weighed up the economic outlook.

European stocks jumped for a third session as investors weighed corporate earnings.

The German DAX surged 1.14%, the French CAC-40 gained 1.14% and FTSE- 100 rallied 0.64%.European shares jumped to a fresh nine- month peak.

The Stoxx-600 added 0.7% just after European markets opened, with most sectors and major bourses into a higher ground.

Siemens boosted its sales and profit outlook for the rest of the year following a massive start to 2023.

Revenue for the first quarter increased 10% year on year to 18.1 billion euros ($19.44 billion).

Credit Suisse announced a fourth-quarter and annual net loss that came below forecasts, as the Swiss bank continued with its huge strategic overhaul.

The company's fourth- quarter net retreat attributable to shareholders came in at 1.4 billion Swiss francs ($1.51 billion), coming below initial stimates.

European markets (Paris stock exchange) opens at 9:00 a.m. and closes at 5:30 p.m., local time, with no lunch period. The Swiss Exchange opens at 9:00 a.m. and closes at 5:30 p.m. (Local time), and it has no lunch period.