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European stocks open higher with eyes on ECB decision; DAX up 0.50%

Published 12/08/2016, 03:33 AM
© Reuters.  Frankfurt Stock Exchange

Investing.com - European stocks opened higher on Thursday, as investors awaited the European Central Bank’s policy decision due later in the day.

During European morning trade, the EURO STOXX 50 advanced 0.44%, France’s CAC 40 rose 0.21%, while Germany’s DAX 30 gained 0.50%.

Financial stocks were mixed, as BNP Paribas (PA:BNPP) slipped 0.27% and Societe Generale (PA:SOGN) added 0.28% in France, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) gained 0.19% and 0.40%.

Among peripheral lenders, Intesa Sanpaolo (MI:ISP) climbed 0.43% and Unicredit (MI:CRDI) tumbled 1.21% in Italy, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) rose 0.13% and 0.41%.

Linde AG (DE:LING) saw shares jump 1.03% after the German group said it plans to resume talks over a potential merger with U.S. rival Praxair (NYSE:PX), after ending discussions in September over a deal to bring together two of the world’s largest suppliers of industrial-gas products.

Meanwhile, Siemens AG (DE:SIEGn) lost 0.18% although the company said Wednesday it is targeting double-digit annual growth at its digital businesses each year through 2020

In London, FTSE 100 edged up 0.13%, helped by WPP (LON:WPP), whose shares surged 2.16% a day after the advertising company said it will be spending about $70 million with Snapchat on behalf of clients.

Tui AG NA (LON:TUIT) added to gains, with shares up 1.60% after the travel company reported 12.5% growth in core earnings for its 2015/2016 financial year, in line with market expectations, and said it was extending by a year an existing profit target.

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Meanwhile, mining stocks were broadly lower. Shares in Antofagasta (LON:ANTO) declined 0.81% and Anglo American (LON:AAL) lost 1.28%, while rival company Randgold Resources (LON:RRS) tumbled 1.76%.

In the financial sector, stocks were mixed. Lloyds Banking (LON:LLOY) slid 0.43% and HSBC Holdings (LON:HSBA) dropped 0.87%, while shares in the Royal Bank of Scotland (LON:RBS) climbed 0.71% and Barclays (LON:BARC) rallied 1.04%.

In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.10% gain, S&P 500 futures showed a 0.06% uptick, while the Nasdaq 100 futures indicated a 0.16% rise.

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