Most European stock markets closed on a strong note Thursday, led by gains in pharmaceuticals and defensive sectors. The pan-European Stoxx 600 gained 1.41%, while Germany's DAX jumped 2.16% to a new record high and the UK's FTSE 100 rose 1.67%. Easing inflation and interest rate concerns, a new German government reform package, and encouraging corporate news fueled the positive mood. In Germany, Bayer soared nearly 9% after consolidating its U.S. Roundup business into a new unit, and France's Sodexo surged 7.5% on stronger-than-expected quarterly performance and an upgraded full-year revenue forecast.
Bayer AG NABayer consolidated its U.S. Roundup business into a new unit, likely to manage litigation risk.
Sodexo SASodexo reported stronger-than-expected quarterly performance and upgraded full-year revenue forecast.