Europe open: Shares higher on recovery hopes, strong Wall St

European shares opened higher on Tuesday after strong US and Asia sessions overnight, driven by upbeat manufacturing survey data which fuelled hopes of a swift economic recovery.

The pan-European Stoxx 600 index rose 0.9% with all major regional bourses higher. Shares were also driven by news that French IT firm Atos had ended takeover talks with US rival DTC Technology.

Atos shares rose 4% after the firm said it has decided to stop talks on the potential $10bn acquisition.

In other corporate news, Fresenius Medical Care slumped 12% after the kidney dialysis firm warned its adjusted net profit would fall this year due to “accelerated Covid-19 related excess mortality of dialysis patients”.

BP shares fell 2.88% after its profit in the last quarter of 2020 missed analyst expectations of $440m , coming in at $115m due to weak energy demand and poor trading results.

Shares in Italian infrastructure group Atlantia rose on news that consortium led by Italian state lender Cassa Depositi e Prestiti asked for more time to submit “an improved and more compelling” binding bid for a stake in its motorway unit.