Investing.com - European stocks opened higher on Thursday, recovering from recent losses posted after comments by the European Central Bank and as markets eyed a preparatory meeting between Group of 20 heads of state.
During European morning trade, the EURO STOXX 50 rose 0.22%, France’s CAC 40 added 0.12%, while Germany’s DAX 30 gained 0.34%.
Markets were jittery after the ECB said Wednesday that the market misinterpreted remarks by President Mario Draghi a day earlier.
Speaking at the ECB’s forum on Tuesday, Draghi said factors weighing on inflation in the euro area were mainly temporary, adding that the bank could look through them.
The remarks fueled speculation that the ECB could soon unwind its quantitative easing program.
Financial stocks were sharply higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) rallied 1.24% and 1.51%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) surged 2.64% and 2.74%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) jumped 0.92% and 1.14% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) advanced 1.18% and 1.47%.
Thyssenkrupp (DE:TKAG) added to gains, with shares up 0.81% unveiled the world’s first cable-free, horizontal-vertical elevator.
Nokia Oyj (HE:NOKIA) shares advanced 0.61% following reports Nokia 3, Nokia 5, and Nokia 6 buyers will get free data from Vodafone (LON:VOD) as part of a strategic alliance between the telecom operator and HMD Global, the company that currently has rights to the Nokia mobile brand.
In London, commodity-heavy FTSE 100 climbed 0.63%, boosted by sharp gains in the mining sector.
Shares in BHP Billiton (LON:BLT) and Glencore (LON:GLEN) jumped 2.42% and 2.45% respectively, while Rio Tinto (LON:RIO) rallied 2.95% and Anglo American (LON:AAL) surged 4.00%.
Financial stocks were also on the upside, as the Royal Bank of Scotland (LON:RBS) and Lloyds Banking (LON:LLOY) advanced 1.31% and 1.40% respectively, while Barclays (LON:BARC) climbed 1.75% and HSBC Holdings (LON:HSBA) soared 4.22%.
On the downside, Intertek Group (LON:ITRK) saw shares plummeted 2.08% after analysts at Deutsche Bank downgraded the stock to a “hold” rating.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.18% rise, S&P 500 futures signaled a 0.18% gain, while the Nasdaq 100 futures indicated a 0.05% dip.