Investing.com - European stocks were mostly higher on Thursday, as oil prices regained some ground and lended support to the energy sector, while investors remained cautious ahead of the European Central Bank’s monthly policy decision.
During European morning trade, the EURO STOXX 50 added 0.29%, France’s CAC 40 edged up 0.19%, while Germany’s DAX 30 rose 0.31%.
Oil prices rose to their highest level since November, after the U.S. reported on Wednesday a lower-than-expected rise in last week’s crude inventories.
Energy stocks were broadly higher, as French oil and gas major Total SA (PA:TOTF) rose 0.27% and Italy’s ENI (MI:ENI) SpA gained 0.36%, while Norwegian rival Statoil ASA (OL:STL) surged 2.15%.
Financial stocks were also on the downside, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) advanced 0.28% and 0.61%, while Deutsche Bank (DE:DBKGn) added 0.30% and Commerzbank (DE:CBKG) tumbled 1.54% in Germany.
Among peripheral lenders, Unicredit (MI:CRDI) rose 0.23% and Intesa Sanpaolo (MI:ISP) slid 0.32% in Italy, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) gained 0.39% and 0.42% respectively.
In earnings news, Pernod Ricard (PA:PERP) SA plunged 4.09% after the French liquor company said that fiscal third-quarter sales dropped by 3% due to currency volatility and lower demand in China.
Shares in Ericsson (ST:ERICAs) dove 4.74% after the Swedish company reported first-quarter sales were below analysts’ estimates.
In London, FTSE 100 dipped 0.01%, weighed by Sky Plc (LON:SKYB), whose shares tumbled 1.75% even after saying that sales rose by 5% in the nine months ending March 31, boosted by demand for its Web-based Now TV service.
Mining stocks were broadly higher on the commodity-heavy index. Shares in Rio Tinto (LON:RIO) jumped 1.92% an Bhp Billiton (LON:BLT) rallied 2.21%, while Glencore (LON:GLEN) and Antofagasta (LON:ANTO) surged 2.46% and 2.80% respectively.
Financial stocks added to gains, as Lloyds Banking (LON:LLOY) climbed 0.82% and Barclays (LON:BARC) advanced 1.15%, while the Royal Bank of Scotland (LON:RBS) and Barclays jumped 1.40% and 1.46% respectively.
Elsewhere, Smiths Group (LON:SMIN) was one of the top performers on the index, with shares soaring 3.79% after the engineering company said it had entered into an agreement to buy Morpho Detection - a California-based firm that makes security systems for airports, border crossings and nuclear power plants - from French company Safran (PA:SAF) for $710 million.
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 a 0.11% rise, while the Nasdaq 100 futures indicated a 0.04% uptick.