European shares broadly higher on deals news as trade war fears ease

European shares are broadly higher Thursday as earnings and deals news push indices higher.

European shares broadly higher on deals news as trade war fears ease

European shares are trading broadly higher in the mid-afternoon Thursday, as earnings results and deals news takes centre stage on the day of the European Central Bank (ECB) policy meeting. Global trade war fears have also eased a little, although disappointing German data has had some impact.

By 1310 BST, the EUROSTOXX 600 was 0.18% higher while the EUROSTOXX 50 was 0.28% in the green. Regional bourses were a little mixed. The German DAX was 0.33% in negative territory, although the French CAC gained 0.29% and the Spanish IBEX was up 0.11%.

Earnings, deals news supports

As the day’s trading session progresses, investors appear more positive than Wednesday. One piece of news buoying indices was that Spanish construction and engineering group, ACS, who’s share rose as it disclosed it is discussing a joint offer for Albertis, with Atlantia.

ACS shares gained 8.63% to €29.58 on the news.

Shares in German drug firm Evotec moved higher as it’s in talks with Sanofi over infectious disease research and development. Evotec shares rose 8.83% to €15.40.

Engie shares rose 3.12% to trade at €13.04 as the natural gas and electricity supplier reported a profit for 2017 after a net loss in 2016.

Renault shares, meanwhile, have recovered from earlier losses following news the French Government said it wouldn’t sell its stake in the car maker. Renault shares were 0.90% higher at €95.29.

Less positive

Amid the brighter tone, there were still some fallers, Thursday, including Daimler shares. The stock was in the red as it announced it had purchased a 3.93% in China electric vehicle development firm, Bejing Electric Vehicle Co, a subsidiary of BAIC.

Other fallers across European indices Thursday were:

  • Deutsche Bank shares were 0.91% lower at €13.06.
  • BASF shares lost 1.23% to trade at €83.91.
  • CRH shares off 1.58% at £2,425.
  • Volkswagen shares down 1.12% to €15.26.

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