European shares gained on Thursday as upbeat quarterly results from STMicroelectronics, Sabadell and Nokia eased worries over the corporate earnings season amid signs of a recession.
The pan-European STOXX 600 (.STOXX) rose 0.6% at 0835 GMT, with technology (.SX8P) and financial services (.SXFP) stocks leading gains.
STMicroelectronics jumped 8.4% after the chipmaker reported bigger-than-expected fourth-quarter sales.
Spanish lender Sabadell (SABE.MC) gained 8.8% following the management's upbeat commentary on 2024 net interest income despite a fall in fourth-quarter net profit.
Nokia (NOKIA.HE) rose 5.5% after the Finnish telecom equipment maker beat quarterly operating profit expectations and forecast higher 2023 sales.
Expectations that the eurozone economy will make a soft landing in 2023 have grown, thanks to China's reopening and Europe's ability to keep lights on through the winter, helped by warmer weather and ramped-up energy capacity.
