European Shares Inch Higher As Trade Tensions Ease
(RTTNews) - European stocks were slightly higher in cautious trade on Thursday in the leadup to U.S. jobs data due later in the day.
Investor sentiment was underpinned by the announcement of a trade deal between the United States and Vietnam, and a decision by the Trump administration to ease export restrictions on China for chip design software and ethane.
The pan European STOXX 600 edged up by 0.3 percent to 542.86 after rising 0.2 percent in the previous session amid a flurry of deals.
The German DAX rose 0.2 percent, France's CAC 40 inched up 0.1 percent and the U.K.'s FTSE 100 was up half a percent.
U.K. bonds and the pound rose after British Prime Minister Keir Starmer backed Rachel Reeves to be Chancellor "into the next election and for many years after".
In corporate news, German wind turbine manufacturer Nordex SE jumped nearly 3 percent on bagging news deals in the U.K., Belgium and France.
Novartis AG fell about 1 percent. The Swiss company said its drug Cosentyx failed in a late-stage study of patients suffering from inflammation in their blood vessels.
British luxury retailer Watches of Switzerland slumped 6.5 percent after it warned of a margin hit from U.S. tariffs.
Murray Income Trust advanced 1.5 percent after its board launched a surprise strategic review.
3i Infrastructure added 1.6 percent after it reported fiscal Q1 total income in line with expectations.
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