Business
European shares rose on Wednesday after sharp declines in the previous session, with Italy's biggest insurer Generali gaining after committing to boost dividends and enzymes maker Novozymes advancing on a UBS upgrade.
Updated : Mar 20, 2018, 02:26 AM IST
European shares rose on Wednesday after sharp declines in the previous session, with Italy's biggest insurer Generali gaining after committing to boost dividends and enzymes maker Novozymes advancing on a UBS upgrade.
Shares in Generali progressed by 2% after the company said it would pay cumulative dividends of more than 5 billion euros ($5.5 billion) to the end of 2018, as it focuses on increasing cash generation and building a solid capital base.
Novozymes, the world's largest maker of industrial enzymes, also rose 2.8% after UBS raised its stance on the stock to "buy" from "sell".
At 0711 GMT, the FTSEurofirst 300 index of top European shares was up 0.4% at 1,608.86 points after falling to a one-week low in the previous session.
Energy shares were also in demand, with the STOXX Europe 600 Oil and gas index rising 0.4%, as oil prices rebounded on expectations that U.S. crude stocks could fall for a fourth straight week.