European Shares See Tentative Rebound
(RTTNews) - European stocks regained some lost ground on Thursday as investors hunted for bargains following recent string of losses on concerns over the U.S.-China trade dispute and its impact on global growth.
As Beijing threatens the United States with the possibility of a rare earths export ban, Chinese state media has sent an ominously worded warning to Washington: "Don't say we didn't warn you."
Brexit worries remained on investors' radar. Bank of England Deputy Governor Dave Ramsden said a Brexit outcome of no deal and no transition is unarguably the biggest risk to the U.K. economy and financial stability.
This would have large negative economic effects, he said at the Inverness Chamber of Commerce on Thursday.
Traders also kept an eye on U.S. political developments after Special Counsel Robert Mueller said that his probe into Russian interference in the 2016 election did not clear President Donald Trump.
The pan European Stoxx 600 was up 0.4 percent at 372.04 after tumbling 1.4 percent in the previous session.
The German DAX was moving up 0.6 percent, France's CAC 40 index was rising 0.4 percent and the U.K.'s FTSE 100 was gaining half a percent.
Higher oil prices helped lift mining and energy stocks. Miner Anglo American climbed 1.1 percent and Glencore added 0.6 percent. Energy giant BP Plc rose 0.6 percent while Tullow Oil jumped as much as 4 percent.
FirstGroup, a provider of transport services in the U.K. and North America, climbed 4.4 percent after narrowing its FY pretax loss.
Johnson Matthey shares tumbled 3.9 percent. The chemicals company said it expects a year of more modest growth for fiscal 2020 due to investment spending.
Restaurant Group gained 1 percent. The company announced that current trading remains in line with its expectations.
Axel Springer shares soared as much as 21 percent. The German media holding company said that it is in negotiations with private equity firm KKR and Friede Springer for a potential strategic investment of KKR in the company.
Kuka, a manufacturer of robotics and automation solutions, dropped 1 percent despite reaffirming its 2019 outlook.