European Markets Rise as U.S. Government Shutdown Ends; Burberry Surges 4% on Strong Sales
European stock markets edged higher on Thursday, following positive global sentiment after the U.S. government officially ended its historic shutdown. The pan-European Stoxx 600 index climbed 0.3% by mid-morning in London, with most sectors in the green. Investors welcomed renewed market stability after weeks of uncertainty surrounding U.S. federal funding.
Across Europe, performance varied by country. France’s CAC 40 led the gains with a 0.8% rise, followed by Italy’s FTSE MIB, which added 0.5%. Germany’s DAX hovered slightly above flat, while Spain’s Ibex 35 ticked up 0.1%. The U.K.’s FTSE 100, however, dipped 0.2% as investors reacted to disappointing GDP figures showing sluggish economic growth in the third quarter.
Among individual stocks, the pharmaceutical sector saw strong momentum. Denmark’s ALK-Abelló jumped 12% after raising its full-year growth forecast to 13–15%, citing broad sales growth across all regions. Zealand Pharma also rallied 7.4% as confidence in European biotech continued to strengthen amid steady earnings updates.
Luxury fashion house Burberry was another standout, with shares climbing 4.3% after reporting its first comparable store sales growth in two years. The company’s second-quarter sales rose 2%, surpassing expectations of a 1% increase. Analysts credited stronger demand from the Americas and China, a signal that Burberry’s strategic turnaround efforts may finally be taking hold.
Meanwhile, global markets also gained momentum overnight as U.S. President Donald Trump signed a funding bill ending the nation’s longest government shutdown. The measure, passed in a 222–209 vote, will finance operations through January, easing concerns over political gridlock. European investors now shift their attention to major corporate earnings from Siemens, Deutsche Telekom, Enel, Merck, Aviva, and Alstom, as well as upcoming EU industrial production data and the U.K.’s Autumn Budget outlook.
source: cnbc