Investing.com - European stocks opened higher on Thursday, as traders eyed an upcoming meeting between OPEC members and after the minutes of the Federal Reserve’s latest meeting sparked uncertainty over the next U.S. rate hike.
During European morning trade, the EURO STOXX 50 advanced 0.39%, France’s CAC 40 gained 0.34%, while Germany’s DAX 30 added 0.15%.
The minutes of the Fed’s May meeting released late Wednesday showed that the central bank plans to unwind its balance sheet towards the end of the year, possibly using a system where cap limits are implemented on how much the Fed would roll off every month without reinvesting.
The Fed also signaled that interest rates could be raised soon, but added that "it would be prudent" to wait for more U.S. economic data.
Market participants were looking ahead to an OPEC meeting scheduled to begin later in the day. The members of the cartel are expected to discuss a possible extension to output cuts.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.39% and 0.50%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) advanced 0.25% and 0.91%.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) added 0.12%, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) jumped 0.98% and 1.09% respectively.
Elsewhere, Siemens AG (DE:SIEGn) saw shares rise 0.16% after the German group won an international 3D Printing Industry Award for successfully testing gas turbine blades produced with additive manufacturing.
On the downside, ArcelorMittal SA (AS:MT) tumbled 1.02% after the world's largest steel producer said on Wednesday it agreed to make concessions to Steel Authority of India to seal a delayed $897 million automotive joint venture.
In London, FTSE 100 inched up 0.04%, led by easyJet (LON:EZJ), whose shares rallied 1.34%.
The airliner made headlines on Tuesday when passengers who were boarding an easyJet flight at Gatwick Airport were delayed after a suspicious powder was found.
Financial stocks were also mostly higher, as Barclays (LON:BARC) eased up 0.02% and the Royal Bank of Scotland (LON:RBS) added 0.15%, while HSBC Holdings (LON:HSBA) rose 0.20% and Lloyds Banking (LON:LLOY) climbed 0.66%.
Meanwhile, mining stocks were broadly lower on the commodity-heavy index. Shares in Fresnillo (LON:FRES) slipped 0.13% and BHP Billiton (LON:BLT) declined 0.41%, while Rio Tinto (LON:RIO) lost 0.47% and Anglo American (LON:AAL) tumbled 1.11%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.39% increase, S&P 500 futures showed a 0.30% rise, while the Nasdaq 100 futures indicated a 0.39% gain.