European shares were broadly a little higher in early afternoon trade Thursday. Stocks gained as investor sentiment was buoyed by an upbeat performance in the US and Asia overnight, while strong economic data from China was also well received.
By 1305 BST, the EUROSTOXX 600 was 0.01% in the green, while the EUROSTOXX 50 had gained 0.04%. Regional bourses were a little mixed. The German DAX rose 0.34%, however, the French CAC was 0.02% lower, while the Spanish IBEX was down 0.37%.
Sentiment supports gains
Investors were broadly positive Thursday, with sentiment gaining a boost from solid, upbeat performances overnight.
A rally helped lift US and Asian indices to fresh record highs. And while the same level of gains isn’t being experienced across Europe, that upbeat tone is proving beneficial, nonetheless.
Economic data from China is also proving supportive to European investors, Thursday. China’s GDP expanded 6.9% in 2017, up from 2016’s 6.7%. That was the first increase from the previous year in seven years and was welcome news to investors.
However, UK stocks failed to be lifted by the combination of positive news and remained firmly in the red.
European stock movers
Among the movers supporting the gains across most European indices was Airbus. The European airline announced earlier Thursday it had secured an order of up to 36 Airbus A380s from loyal customer Emirates Airlines, thus securing the production of its superjumbo for some years.
Airbus shares were 2.52% higher at €92.00.
Other risers included:
- Swiss sanitary maker Geberit shares rose 6.14% to CHF451.20 after announcing a 10.9% rise in Q4 sales.
- A ratings upgrade from Goldman Sachs saw Infineon shares gain 5.76% to €25.15.
- Shares in Carrefour, France’s leading retailer, meanwhile, were 2.86% higher at €18.19, following its Q4 earnings update.
The financial sector was mixed with a negative bias, with shares in BBVA, BNP Paribas and Societe Generale all trading in the red.