Rally in mining stocks helps Europe shake off earnings gloom

  • Reuters
  • Stock Market News
Rally in mining stocks helps Europe shake off earnings gloom
Credit: © Reuters.

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Feb 18 (Reuters) - European shares rose on Thursday as mining stocks tracked a jump in commodity prices and helped outweigh the impact from a clutch of disappointing earnings reports from companies including Airbus and Orange.

The pan-European STOXX 600 .STOXX was up 0.2% by 0815 GMT, with miners .SXPP jumping 2.0% as copper prices jumped on Thursday to their highest in nearly a decade. MET/L

Technology .SX8P , energy .SXEP and auto .SXAP stocks were also among the biggest gainers in early trading, rising between 0.7% and 1.3%.

Meanwhile, planemaker Airbus AIR.PA fell 3.1% as it posted an annual loss and withheld a dividend due to the COVID-19 pandemic, while Orange ORAN.PA , France's biggest telecoms group, lost 4.3% after reporting a drop in core operating profit in the fourth quarter.

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