Investing.com – European equities traded mostly higher on Thursday, boosted by a record close on Wall Street, though investors were cautious ahead of the European Central Bank’s (ECB) policy decision and the follow-up press conference.
Nearing midday European trade, the benchmark Euro Stoxx 50 gained 0.57%, France’s CAC 40 rose 0.30% while Germany’s DAX 30 advanced 0.45%.
While the ECB is forecast to stand pat on rates, investors are looking for any possible hints from its chief Mario Draghi on the future of the €60 billion-a-month ($69.2 billion) asset purchase program with an eye on whether he could give a nod towards an eventual tapering.
The euro held near 14-month highs against the dollar as market players waited for the decision announcement at 7:45AM ET (11:45GMT) to be followed by the press conference with Draghi at 8:30AM ET (12:30GMT).
Also on watch, market participants looked ahead to details on the progress made at Brexit negotiations between the UK and European Union (EU).
British Brexit Secretary David Davis and EU negotiator Michel Barnier were scheduled to give a press conference later Thursday afternoon, tentatively around 8:30AM ET (12:30GMT).
On the economic front, UK retail sales rose more than expected in June, while German producer price inflation was higher than expected for the same month.
In company news, Moneysupermarket.Com Group Plc (LON:MONY) led the Stoxx 600 lower with losses of more than 7% as the British price-comparison site warned that its full-year profit outlook would be at the lower end of consensus.
EasyJet (LON:EZJ) followed with losses of around 6% as the airline warned of uncertainty over prices, while German rival airline Lufthansa (DE:LHAG) seemed affected by the outlook, dropping by nearly the same amount.
On the opposite side of the pan-European benchmark, Ingenico (PA:INGC) led advancers with gains of 8% as the French payment technologies firm announced it would pick up Stolckholm-based payment services company Bambor in a €1.5 billion ($1.7 billion).
Wartsila Oyj Abp (HE:WRT1V) followed with gains of 7% after the Finnish ship systems group reported an order intake that beat consensus.
Boliden (ST:BOL) jumped more than 6% as its strong mining business pushed the Swedish firm’s second-quarter profit above consensus.
Meanwhile, oil prices took a breather on Thursday, trading slightly lower, after the prior day’s U.S. inventory data pushed the commodity to a six-week high.
European energy stocks traded higher, as French oil and gas major Total SA (PA:TOTF) rose 0.74%, Italy’s ENI (MI:ENI) gained 0.38% and Norwegian rival Statoil (OL:STL) traded up 1.22%.
Financial stocks registered mixed trade, as French lenders BNP Paribas (PA:BNPP) fell 0.60% but Societe Generale (PA:SOGN) rose 0.53%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) traded up 0.13% and 0.33%, respectively.
Among peripheral lenders, Italian banks Intesa Sanpaolo (MI:ISP) and rival Unicredit (MI:CRDI) gained 0.35% and 0.36%, respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) traded up 0.44% and 1.26%, respectively.
In London, the commodity-heavy FTSE 100 advanced 0.41% after the strong retail data and while waiting for details on Brexit negotiations.
Shares in Glencore (LON:GLEN) fell 0.44%, Anglo American (LON:AAL) traded up 0.41%, BHP Billiton (LON:BLT) lost 0.23% and Rio Tinto (LON:RIO) shed 0.80%.
Energy stocks moved higher, as BP (LON:BP) gained 0.97% while rival Royal Dutch Shell (LON:RDSa) rose 0.65%.
Financial stocks registered gains, as shares in HSBC Holdings (LON:HSBA) rose 0.74%, Royal Bank of Scotland (LON:RBS) advanced 0.60%, while Lloyds Banking (LON:LLOY) traded up 0.84% and Barclays (LON:BARC) gained 0.58%.
In the U.S., stock futures pointed to a flat open. The Dow Jones Industrial Average futures advanced 0.04%, S&P 500 futures inched up 0.02%, while the Nasdaq 100 futures slipped 0.01%.