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European stocks turn broadly higher; Dax up 0.83%

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Investing.com - European stocks turned broadly higher on Thursday, although expectations for the Federal Reserve to scale back its bond-buying program continued to weigh.

During European afternoon trade, the EURO STOXX 50 jumped 0.91%, France's CAC 40 rallied 1.07%, while Germany's DAX 30 advanced 0.83%.

Investors were looking ahead to the weekly U.S. report on jobless claims later in the global day amid ongoing speculation over whether the Federal Reserve is moving closer to scaling back its USD85 billion-a-month asset purchase program.

Markets were also jittery amid speculation on whether the European Central Bank will implement negative interest rates on deposits following recent comments by senior bank officials.

Financial stocks were broadly higher, as French lenders Societe Generale and BNP Paribas advanced 0.64% and 1.19%, while Germany's Deutsche Bank climbed 0.70%.

Peripheral lenders added to gains, with Spanish banks Banco Santander and BBVA rising 0.36% and 0.82% respectively, while Italy's Unicredit and Intesa Sanpaolo jumped 1.86% and 2.24%.

Elsewhere, Fiat surged 2.28% amid reports the Italian auto maker is in financing talks with a pool of banks to buy the 41.5% Chrysler stake that is held by the United Auto Workers' retiree health-care trust and to refinance the two automakers' debt.

On the downside, Aeroports de Paris slid 0.28% after French Finance Minister Pierre Moscovici said the government plans to sell as many as 10 million shares in the company.

In London, FTSE 100 rose 0.39%, as U.K. lenders tracked their European counterparts higher.

Shares in HSBC Holdings advanced 0.75% and Barclays gained 0.82%, while the Royal Bank of Scotland and Lloyds Banking rallied 0.97% and 1.72%.

Mining stocks also remained on the upside, as BHP Billiton and Rio Tinto saw shares rise 0.04% and 1.50% respectively, while Anglo American jumped 0.96% and Fresnillo soared 4.94%.

Meanwhile, Glaxo declined 0.81%, erasing earlier gains, after the U.K. drugmaker won approval from the Food and Drug Administration for its Tafinlar and Mekinist drugs for patients with melanoma that has spread or can't be surgically removed.

In the U.S., equity markets pointed to a slightly higher open. The Dow Jones Industrial Average futures pointed to a 0.12% gain, S&P 500 futures signaled a 0.21% increase, while the Nasdaq 100 futures indicated a 0.12% rise.

Later in the day, the U.S. was to release data on pending home sales.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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