Investing.com - European markets opened higher on Thursday, as investors turned to a fresh batch of corporate earnings reports due throughout the session.
The EURO STOXX 50 advanced 0.81%, France’s CAC 40 gained 0.83%, while Germany’s DAX 30 was up 0.74% by 03:35 a.m. ET (07:35 GMT).
Financial stocks were broadly higher, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) gained 0.67% and 0.90%, while Germany's Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) rallied 1.56% and 1.16%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) advanced 0.28% and 0.70% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) jumped 0.74% and 1.15%.
BBVA earlier reported a significant drop in fourth-quarter net profit to €70 million, compared to €678 million a year earlier.
Shares in Volkswagen (DE:VOWG_p) climbed 1.55% after the German carmaker vowed to end animal testing. The comments followed revelations that the group funded studies in which humans and monkeys inhaled diesel fumes.
ArcelorMittal SA (AS:MT) added to gains, as shares surged 2.28% after the metal producer posted a more than one-third increase in its annual core profits and reinstated dividend payments.
On the downside, Siemens AG (DE:SIEGn) plummeted 2.31% after the German group said first quarter profits were weighed down by its struggling power and gas unit.
In London, FTSE 100 added 0.15%, helped by 3I Group (LON:III), whose shares rallied 2.04% after the private equity group posted an icrease in net asset value per share for the fourth-quarter.
Financial stocks were also on the upside, as Lloyds Banking (LON:LLOY) rose 0.22% and Barclays (LON:BARC) gained 0.51%, while HSBC Holdings (LON:HSBA) climbed 0.53% and the Royal Bank of Scotland (LON:RBS) advanced 0.83%.
Meanwhile, Capita PLC (LON:CPI) remained the worst performer on the index for a second consecutive session, with shares down 12.56%.
On Wednesday, the company issued a profit warning for 2018 and its new Chief Executive Jonathan Lewis declared the group “too complex”, “driven by a short-term focus” and “lacking operational discipline and financial flexibility”.
Oil giant Royal Dutch Shell (LON:RDSa) added to losses, as shares tumbled 1.08% even after the company said that profits more than doubled in the fourth quarter of 2017.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.26% gain, S&P 500 futures signaled a 0.35% increase, while the Nasdaq 100 futures indicated a 0.29% rise.