Investing.com - European stocks were higher on Thursday, led by gains in the financial sector and boosted by upbeat Chinese manufacturing activity data, while investors eyed the release of manufacturing activity reports from the euro zone.
During European morning trade, the EURO STOXX 50 gained 0.38%, France’s CAC 40 advanced 0.67%, while Germany’s DAX 30 rose 0.32%.
Earlier Thursday, data showed that Chinese manufacturing activity swung into expansion territory this month, with the official mannufacturing purchasing managers’ index at 50.4, up from 49.9 in July.
However, China’s Caixin manufacturing PMI ticked down to 50.0 in August from 50.6 in July.
Financial stocks were broadly higher, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) rallied 1.62% and 1.93%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) surged 2.26% and 3.66%.
The two German lenders were still strongly supported by reports they held talks about a potential merger earlier this month. However, they decided that it was not the right time to proceed with the deal.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) jumped 2.25% and 3.56% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) advanced 1.09% and 1.67%.
Shares in Pernod Ricard (PA:PERP) soared 2.58% after the French liquor company reported an increase in full-year profit despite declining sales in the last three months of its fiscal year.
Roche Holding AG (SIX:ROG) was also on the upside, with shares adding 0.25% after the Swiss drugmaker said its cancer immunotherapy Tecentriq had produced positive results in a Phase III study.
In London, FTSE 100 gained 0.61%, as U.K. lenders tracked their European counterparts sharply higher.
Shares in the Royal Bank of Scotland (LON:RBS) climbed 1.39% and Barclays (LON:BARC) jumped 1.47%, while Lloyds Banking (LON:LLOY) and HSBC Holdings (LON:HSBA) surged 1.60% and 2.53% respectively.
Mining stocks were also mostly higher on the commodity-heavy index. Rio Tinto (LON:RIO) rallied 1.26% and Antofagasta (LON:ANTO) gained 2.28%, while rival company Glencore (LON:GLEN) soared 2.76%.
On the downside, Hays Plc (LON:HAYS) plummeted 4.06% after the recruiter said hiring in Britain weakened significantly after the June 23 vote to leave the European Union.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.31% rise, S&P 500 futures showed a 0.29% gain, while the Nasdaq 100 futures indicated a 0.35% increase.