Investing.com – European stocks edged higher on Thursday morning as Spanish stocks recovered from a near record low close.
Investors are still figuring out how to respond to the political crisis over Catalan Independence. The IBEX 35 was up 0.75% at 4:29 AM ET (9:29 GMT), as Spanish banks recovered from a tumultuous Wednesday.
Madrid-based bank Santander (MC:SAN) was up 1.35%, while Bankia SA (MC:BKIA)increased 1.06%. BBVA (MC:BBVA) moved up 0.58% and Caixabank SA (MC:CABK)inched forward 0.38%.
Shares of B. Sabadell (MC:SABE) was among the worst performing in the financial sector, tumbling 0.63%, while real estate trust company Merlin Properties SA (MC:MRL) fell 1.36%.
The Catalan regional government said yesterday it would move to declare independence from Spain on Monday.
Across Europe, airline stocks were down. Airline holding company International Consolidated Airlines Group (LON:ICAG) S.A was also down 1.58% while Deutsche Lufthansa AG (DE:LHAG) was among the hardest hit in Germany, dropping 1.34%.
In France, Airbus Group SE (PA:AIR) fell 1.18% after its defense and space division froze capital spending and faces missing its 2017 cash targets by hundreds of millions of euros, Reuters reported.
Meanwhile in Germany the DAX was down 0.14%. Semiconductor manufacturer Infineon technologies stumbled 1.92% while pharmaceutical firm Merck (NYSE:MRK) fell 1.46%.
Among the biggest winners on the DAX were energy company E.ON SE (DE:EONGn) NA, which was up 1.97%, and natural gas holding company RWE AG ST (DE:RWEG) O.N., which increased 1.64%.
France’s CAC 40 was steady at 0.08%. The biggest winners were service and utility company Veolia Environnement (PA:VIE) VE SA which jumped 1.30% and natural gas supplier Engie SA (PA:ENGIE), which increased 1.19%.
Among the worst performers were manufacturing company Compagnie de Saint Gobain (PA:SGOB) SA, which fell 0.82% and car manufacturer Peugeot SA (PA:PEUP).
In London the FTSE 100 was up 0.14%. Grocery retailer Tesco (LON:TSCO) jumped 2.39%, while Merlin Entertainments PLC (LON:MERL) increased 1.90%.
The financial sector was among the hardest hit in the UK, with Standard Chartered (LON:STAN) down 1.78% and Barclays PLC (LON:BARC) decreasing 1.35%. Insurance company Aviva (LON:AV) also fell 1.86%.