Investing.com - European stocks moved higher on Thursday, after the release of upbeat coporate earnings reports, although political uncertainty continued to weigh.
During European morning trade, the EURO STOXX 50 added 0.32%, France’s CAC 40 rose 0.23%, while Germany’s DAX 30 gained 0.42%.
Investors remained cautious as worries over elections in France, Germany, the Netherlands and possibly Italy, as well as the ongoing row over Greece's bailout added to concerns over political risk in the euro area.
Financial stocks were mixed, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.46% and 1.88%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) lost 0.45% and 1.35%.
Earlier Thursday, Commerzbank reported slightly better than expected earnings.
Among peripheral lenders, Intesa Sanpaolo (MI:ISP) added 0.19% and Unicredit (MI:CRDI) surged 4.63% in Italy, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) declined 0.46% and 0.50% respectively.
Elsewhere, Zurich Insurance Group AG (SIX:ZURN) announced a 74% increase in full-year net earnings, but shares still tumbled 1.02% in morning trade.
Pernod Ricard (PA:PERP) SA saw shares slip 0.23% after reporting a 3% rise in net profit for the first half of its fiscal year.
On the upside, L’Oreal SA (PA:OREP) rose 0.23% after the Financial Times reported that it is considering selling The Body Shop, just over a decade after buying the cosmetics chain.
In London, FTSE 100 edged up 0.12%, led by Hargreaves Lansdown (LON:HRGV), whose shares rallied 1.47% a day after the company reported a 21% increase in pre-tax profits for the six months to December 31.
The financial service group also admitted on Wednesday that it has broken UK company law on dividend payments to shareholders, who include founders Peter Hargreaves and Stephen Lansdown.
U.K. lenders added to gains, as HSBC Holdings (LON:HSBA) climbed 0.50% and the Royal Bank of Scotland (LON:RBS) advanced 0.57%, while Barclays (LON:BARC) jumped 1.31%. Lloyds Banking (LON:LLOY) underperformed, with shares slipping 0.24%.
Meanwhile, mining stocks were broadly lower on the commodity-heavy index. Shares in BHP Billiton (LON:BLT) fell 0.26% and Glencore (LON:GLEN) retreated 0.98%, while Anglo American (LON:AAL) lost 1.73%.
In earnings news, Smith & Nephew (LON:SN) reported a 90% increase in 2016 pretax profit, despite a decline in fourth-quarter revenue and the sale of its gynecology business. Shares were down 4.66%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.01% dip, S&P 500 futures showed a 0.02% gain, while the Nasdaq 100 futures indicated a 0.04% uptick.