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

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 21, 2023. REUTERS/Staff/File Photo Acquire Licensing Rights

Nov 22 (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 STOXX 600 (.STOXX) was up 0.2% by 0807 GMT, after largely muted trading so far this week.

Real estate stocks (.SX86P) led sectoral gains, rising 0.7%, while media shares (.SXMP) advanced 0.5%.

Among individual movers, Sage (SGE.L) 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 (TKAG.DE) jumped 5% after its results.

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