Investing.com - European stocks edged higher on Thursday, as markets eyed the outcome of the European Central Bank's monthly policy-setting meeting, amid recent signs of progress in tackling the euro zone's debt crisis.
During European morning trade, the EURO STOXX 50 rose 0.27%, France’s CAC 40 added 0.07%, while Germany’s DAX 30 inched 0.06% higher.
The ECB was expected to leave interest rates unchanged at 0.75% on Thursday, but markets were awaiting remarks by President Mario Draghi amid wariness that he could express concerns over the impact of the euro’s recent gains on the region’s economic recovery.
On Wednesday, a German government spokesman said the single currency was not overvalued and that exchange rate policy was not an appropriate way to increase competitiveness.
The comments came after French President Francois Hollande called for a targeted exchange rate on Tuesday.
Financial stocks were broadly higher, as shares in French lenders Societe Generale and BNP Paribas advanced 0.54% and 1.17%, while Germany's Deutsche Bank and Commerzbank added 0.22% and 0.13%.
Peripheral lenders were also on the upside, with Italian banks Intesa Sanpaolo and Unicredit rising 0.29% and 1.31%, while Spain's Banco Santander and BBVA jumped 1.02% and 1.40% respectively.
Elsewhere, Alcatel-Lucent soqred 9.81% as CEO Ben Verwaayen stepped down after numerous attempts to turn around the phone-equipment maker. The company reported a fourth-quarter net loss of EUR1.37 billion.
In London, FTSE 100 edged up 0.09%, as investors also eyed the Bank of England's policy statement later in the day.
Mining giants BHP Billiton and Rio Tinto trended higher, with shares adding 0.08% and 0.53%, while copper producer Kazakhmys edged 0.10% higher.
Oil and gas giant Anglo American added to gains, rising 0.22%, while rival company BP climbed 0.52%.
Meanwhile, financial stocks were mostly lower. Shares in Lloyds Banking slipped 0.27% and HSBC Holdings fell 0.32%, while the Royal Bank of Scotland saw shares decline 0.32%. Barclays overperformed on the other hand, advancing 0.48%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.02% dip, S&P 500 futures signaled a 0.04% loss, while the Nasdaq 100 futures indicated a 0.08% gain.
Later in the day, the U.S. was to release government data on initial jobless claims.
During European morning trade, the EURO STOXX 50 rose 0.27%, France’s CAC 40 added 0.07%, while Germany’s DAX 30 inched 0.06% higher.
The ECB was expected to leave interest rates unchanged at 0.75% on Thursday, but markets were awaiting remarks by President Mario Draghi amid wariness that he could express concerns over the impact of the euro’s recent gains on the region’s economic recovery.
On Wednesday, a German government spokesman said the single currency was not overvalued and that exchange rate policy was not an appropriate way to increase competitiveness.
The comments came after French President Francois Hollande called for a targeted exchange rate on Tuesday.
Financial stocks were broadly higher, as shares in French lenders Societe Generale and BNP Paribas advanced 0.54% and 1.17%, while Germany's Deutsche Bank and Commerzbank added 0.22% and 0.13%.
Peripheral lenders were also on the upside, with Italian banks Intesa Sanpaolo and Unicredit rising 0.29% and 1.31%, while Spain's Banco Santander and BBVA jumped 1.02% and 1.40% respectively.
Elsewhere, Alcatel-Lucent soqred 9.81% as CEO Ben Verwaayen stepped down after numerous attempts to turn around the phone-equipment maker. The company reported a fourth-quarter net loss of EUR1.37 billion.
In London, FTSE 100 edged up 0.09%, as investors also eyed the Bank of England's policy statement later in the day.
Mining giants BHP Billiton and Rio Tinto trended higher, with shares adding 0.08% and 0.53%, while copper producer Kazakhmys edged 0.10% higher.
Oil and gas giant Anglo American added to gains, rising 0.22%, while rival company BP climbed 0.52%.
Meanwhile, financial stocks were mostly lower. Shares in Lloyds Banking slipped 0.27% and HSBC Holdings fell 0.32%, while the Royal Bank of Scotland saw shares decline 0.32%. Barclays overperformed on the other hand, advancing 0.48%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.02% dip, S&P 500 futures signaled a 0.04% loss, while the Nasdaq 100 futures indicated a 0.08% gain.
Later in the day, the U.S. was to release government data on initial jobless claims.