Europe open: Bumper Barclays, Rio boost shares as Russia weigh

European shares rebounded at the open on Wednesday as bumper earnings and dividend payouts boosted sentiment despite Western sanctions against Moscow over its threats to Ukraine.

The pan-European Stoxx 600 index was up 0.8% in early deals after several straight days of losses.

Russia was hit with sanctions overnight after it ordered troops into separatist regions of eastern Ukraine.

In equity news, shares in UK student accommodation provider Unite Group soared as it swung to a profit and reported a positive outlook.

Automakers Stellantis rose after the company reported the annual margin on adjusted operating profit climbed above its target.

Shares in French yoghurt maker Danone were up as the company reported stronger-than-expected sales growth in the last quarter of 2021.

Barclays gained 2.5% after a record annual profit and return of £2.5bn to shareholders in 2021, while Rio Tinto also rose after announcing a record dividend driven by higher earnings on the back of soaring commodity prices.