Investing.com - European stocks remained higher on Thursday, after comments by European Central Bank head Mario Draghi continued to support sentiment, despite sustained concerns over the political deadlock in the country.
During European afternoon trade, the EURO STOXX 50 rose 0.39%, France’s CAC 40 gained 0.39%, while Germany’s DAX 30 advanced 0.70%.
ECB President Draghi reiterated Wednesday that it is up to European governments to resolve the crisis in the region through economic reforms and restoring financial stability.
However, the growing likelihood of fresh elections in Italy continued to weigh, as hopes that a coalition government could be formed faded.
Financial stocks were mixed. In France, BNP Paribas dropped 0.81% and Societe Generale advanced 0.93%, while in Germany, Deutsche Bank rose 0.37% and Commerzbank retreated 0.35%.
Elsewhere, Deutsche Telekom tumbled 1.55% after reporting fourth-quarter earnings that missed analysts' estimates.
On the upside, Telefonica rallied 1.63% after reporting fourth-quarter earnings that beat analysts’ estimates, as sales growth in Latin America helped to offset revenue declines in its domestic market.
In London, FTSE 100 climbed 0.41%, supported by strong gains in the financial sector.
Shares in Barclays advanced 1.37% and HSBC Holdings jumped 1.36%, extending earlier gains, while Lloyds Banking surged 1.53%.
The Royal Bank of Scotland pushed lower on the other hand, plummeting 4.22%, as the U.K. lender posted a wider full-year loss after it set aside a further GBP1.1 billion to compensate clients wrongly sold insurance and swaps.
In the mining sector, stocks remained broadly lower, with Rio Tinto and BHP Billiton declining 0.52% and 0.88%, while copper producers Xstrata and Kazakhmys retreated 0.82% and 5.21%
Oil and gas major Anglo American added to losses, as shares tumbled 1.68%, as did Petrofac, a provider of integrated facilities services to the oil, gas and energy production and processing industries, down 3.34%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.12% rise, S&P 500 futures signaled a 0.19% gain, while the Nasdaq 100 futures indicated a 0.22% increase.
Also Thursday, official data showed that the number of people unemployed in Germany fell by 3,000 to 2.9 million in February, slightly below expectations, while the unemployment rate held steady at 6.9%.
In addition, revised data showed that Spain’s economy contracted by 0.8% in the fourth quarter, from an initial estimate for a 0.7% contraction, bringing the annual rate of contraction to 1.9%.
Later in the day, the U.S. was to release revised data on fourth quarter growth and the weekly report on initial jobless claims.
During European afternoon trade, the EURO STOXX 50 rose 0.39%, France’s CAC 40 gained 0.39%, while Germany’s DAX 30 advanced 0.70%.
ECB President Draghi reiterated Wednesday that it is up to European governments to resolve the crisis in the region through economic reforms and restoring financial stability.
However, the growing likelihood of fresh elections in Italy continued to weigh, as hopes that a coalition government could be formed faded.
Financial stocks were mixed. In France, BNP Paribas dropped 0.81% and Societe Generale advanced 0.93%, while in Germany, Deutsche Bank rose 0.37% and Commerzbank retreated 0.35%.
Elsewhere, Deutsche Telekom tumbled 1.55% after reporting fourth-quarter earnings that missed analysts' estimates.
On the upside, Telefonica rallied 1.63% after reporting fourth-quarter earnings that beat analysts’ estimates, as sales growth in Latin America helped to offset revenue declines in its domestic market.
In London, FTSE 100 climbed 0.41%, supported by strong gains in the financial sector.
Shares in Barclays advanced 1.37% and HSBC Holdings jumped 1.36%, extending earlier gains, while Lloyds Banking surged 1.53%.
The Royal Bank of Scotland pushed lower on the other hand, plummeting 4.22%, as the U.K. lender posted a wider full-year loss after it set aside a further GBP1.1 billion to compensate clients wrongly sold insurance and swaps.
In the mining sector, stocks remained broadly lower, with Rio Tinto and BHP Billiton declining 0.52% and 0.88%, while copper producers Xstrata and Kazakhmys retreated 0.82% and 5.21%
Oil and gas major Anglo American added to losses, as shares tumbled 1.68%, as did Petrofac, a provider of integrated facilities services to the oil, gas and energy production and processing industries, down 3.34%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.12% rise, S&P 500 futures signaled a 0.19% gain, while the Nasdaq 100 futures indicated a 0.22% increase.
Also Thursday, official data showed that the number of people unemployed in Germany fell by 3,000 to 2.9 million in February, slightly below expectations, while the unemployment rate held steady at 6.9%.
In addition, revised data showed that Spain’s economy contracted by 0.8% in the fourth quarter, from an initial estimate for a 0.7% contraction, bringing the annual rate of contraction to 1.9%.
Later in the day, the U.S. was to release revised data on fourth quarter growth and the weekly report on initial jobless claims.