European stocks inched higher in cautious trade on Thursday, with a rebound in oil prices and gains in the banking sector supporting markets on a day of hectic political and economic activity.
German industrial output recovered in April after falling slightly in March and revised data showed the euro zone economy expanded more than initially estimated in the first quarter, helping support underlying sentiment ahead of the ECB policy meeting and former FBI Director James Comey's much-anticipated testimony before the Senate intelligence committee.
The pan-European Stoxx Europe 600 index was up 0.2 percent at 389.92 in late opening deals after closing 0.1 percent lower in the previous session. The German DAX was moving up 0.4 percent and France's CAC 40 was rising 0.3 percent.
The U.K.'s FTSE 100 was marginally lower at 7,472 in choppy as polls opened in the U.K. general election after a campaign of three phases marred by terror attacks.
Banks traded mostly higher, a day after Spain's Banco Popular was acquired by Banco Santander.
German utilities also extended gains from the previous session, with RWE rising half a percent and E.ON climbing nearly 2 percent.
Heidelberger Druckmaschinen rallied 3.5 percent after the company took over the coatings and pressroom chemicals operations in the EMEA region of its strategic partner Fujifilm Europe BV.
Euler Hermes shares advanced 1.5 percent after the Bloomberg reported that German insurer Allianz is exploring a plan to take the French credit insurance company private.
Miners Anglo American, Antofagasta and Glencore rose between half a percent and 1 percent in London after Chinese exports and imports data beat forecasts.
Berendsen shares soared 9 percent after the company finally agreed to a takeover offer from French laundry services group Elis.
Petrofac jumped 4 percent after it signed a long-term framework agreement with Petroleum Development Oman.
For comments and feedback contact: editorial@rttnews.com
Business News