European shares rise on SAP's upbeat outlook, China rally
European shares rise on SAP's upbeat outlook, China rally. (Reuters) - European stocks rose on Thursday as software giant SAP signalled a rebound in its business from a coronavirus hit and China's stock markets extended a rally, supporting risk sentiment in the continent. The broader European equities index rose 0.3%, with technology stocks .SX8P surging 2.2% on the back of a fresh record high for SAP. "We are in a position where companies can surprise positively versus expectations because the bar has come down quite sizeably for this year and activity has picked up substantially in the last two months," said Guy Miller, chief market strategist at Zurich Insurance Co. "The question is what happens from here. The more challenging period will be when we get into the autumn months - if can we keep the pace of recovery up or have we just had a knee-jerk rebound."