European shares gain on real estate boost; UK’s Sage hits record high

(Reuters) – European shares climbed to a two-month high on Wednesday, led by media and real estate stocks, with software firm Sage jumping to a record high following a strong annual operating profit.

The pan-European was up 0.2% by 0807 GMT, after largely muted trading so far this week.

Real estate stocks led sectoral gains, rising 0.7%, while media shares advanced 0.5%.

Among individual movers, Sage jumped 7% to top the STOXX 600 after an 18% rise in full-year underlying operating profit. With margins expanding to 20.9%, the British company said they would continue to increase this year.

Germany’s Thyssenkrupp (ETR:) jumped 5% after its results.

Home improvement retailer Kingfisher (LON:) dropped 5.8% after downgrading its full-year profit outlook for the second time in three months.