Investing.com - European stocks opened higher on Thursday, as the minutes of the Federal Reserve’s latest policy meeting revealed caution over future rate hikes and as investors eyed the minutes of the European Central Bank’s most recent meeting, due later in the day.
During European morning trade, the EURO STOXX 50 advanced 0.40%, France’s CAC 40 climbed 0.67%, while Germany’s DAX 30 gained 0.64%.
Released on Wednesday, the minutes from the Fed's March policy meeting indicate that the central bank is unlikely to raise interest rates before June due to concerns over global economic growth.
The minutes showed that "a number" of policymakers believe that headwinds to growth will probably persist and that many urged caution about raising rates.
Equity markets were also boosted as oil prices continued to rise for a second consecutive day, after on Wednesday data showed that U.S. stockpiles fell unexpectedly last week.
Energy stocks were broadly higher, as French oil and gas major Total SA (PA:TOTF) advanced 0.94% and Italy’s ENI (MI:ENI) SpA rose 0.24%, while Norwegian rival Statoil ASA (OL:STL) jumped 1.55%.
Meanwhile, financial stocks were mixed. BNP Paribas (PA:BNPP) fell 0.16% and Societe Generale (PA:SOGN) added 0.26% in France, while Commerzbank (DE:CBKG) slipped 0.25% and Deutsche Bank (DE:DBKGn) edged up 0.08% in Germany.
Among peripheral lenders, Intesa Sanpaolo (MI:ISP) rose 0.28% and Unicredit (MI:CRDI) slipped 0.13% in Italy, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) gained 0.15% and 0.49% respectively.
Elsewhere, German carmaker Daimler AG NA O.N. (DE:DAIGn) saw shares plunge 4.18% after the company’s shareholders expressed concern on Wednesday over threats posed by rivals such as Tesla (NASDAQ:TSLA).
In London, commodity-heavy FTSE 100 advanced 0.46%, boosted by gains in the mining sector.
Shares in Rio Tinto (LON:RIO) rallied 2.02% and Bhp Billiton (LON:BLT) climbed 2.93%, while rival company Anglo American (LON:AAL) surged 3.04%.
Marks and Spencer (LON:MKS) added to gains, with shares jumping 1.69% after the retailer reported a 1.9% increase in overall fourth-quarter group sales.
However, the company’s CEO Steve Rowe said that performance in its clothing and home sector remained "unsatisfactory" and that more work needed to be done.
In the financial sector, stocks were also mostly higher. The Royal Bank of Scotland (LON:RBS) added 0.19% and Barclays (LON:BARC) rose 0.33%, while HSBC Holdings (LON:HSBA) gained 0.38%. Lloyds Banking (LON:LLOY) underperformed, with shares tumbling 1.98%.
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 a 0.04% downtick, while the Nasdaq 100 futures indicated a 0.06% loss.