European Shares Edge Higher Before ECB Rate Decision

(RTTNews) - European stocks were slightly higher on Thursday ahead of an expected rate cut from the European Central Bank later in the day.

In economic releases, Germany's factory orders increased for the second straight month in April, though at a slower pace, data from Destatis showed earlier today.

Factory orders rose 0.6 percent month-on-month in April, following a revised 3.4 percent rise in March. Meanwhile, orders were forecast to fall 1.0 percent.

On a yearly basis, factory orders logged an expansion of 4.8 percent, faster than the 3.7 percent growth in the prior month.

Elsewhere, the U.K.'s Office for National Statistics has said that the annual inflation rate for April was overstated due to a data error stemming from a government department.

According to revised data, consumer price inflation for the 12 months to April 2025 stood at 3.4 per cent instead of 3.5 percent reported earlier.

The pan European STOXX 600 rose 0.4 percent to 553.04 after rising half a percent in the previous session.

The German DAX gained 0.4 percent, France's CAC 40 added 0.3 percent and the U.K.'s FTSE 100 was up 0.1 percent.

Italy's UniCredit edged up slightly after receiving EU clearance for its bid for Banco BPM.

Nordex rose about 1 percent on securing a 56-MW order from Umwelt Management AG for a repowering project in Lower Saxony, Germany.

Office landlord Workspace Group climbed 1.1 percent after posting strong full-year results and lifting annual dividend.

Mitie Group plummeted 11 percent. The outsourcer said it would acquire smaller peer Marlowe for about 366 million pounds ($496 million) in a cash-and-stock deal.

Wizz Air Holdings plunged 24 percent. The budget carrier reported an around 62 percent slide in annual operating profit, citing growth challenges and capacity constraints.

Wise shares surged 11 percent after the fintech firm said it would move its primary listing from London to New York.