(Reuters) – European shares on Thursday resumed their march higher after a dip in the previous session, with investors awaiting more economic data and minutes of the European Central Bank’s September meeting for clues on the pace and path of rate hikes.
The STOXX 600 index was up 0.6% by 0710 GMT, tracking a late-day rally in Wall Street. [.N]
As of last close, the region-wide index is up 2.85% for the newly commenced quarter — compared with previous quarter’s sharp selloff — due to expectations of less-severe policies by central banks amid mixed set of data from the United States and Europe.
All eyes are now on Euro zone construction activity for September and retail sales data for August due later in the day.
Real estate and automobile sectors rose 1.5% each to lead gains among the STOXX 600’s sectoral indexes.
London’s blue-chip FTSE 100 added 0.2% on boost from a 3.5% jump in shares of Imperial Brands after the tobacco company said FY22 trading was in line with expectations.
Shares of Credit Suisse Group AG climbed 4.2% to the top of STOXX 600 index after JP Morgan upgraded the Swiss Bank’s stock to “neutral” from “underweight”.
A media report also said the lender was exploring a sale of the Mandarin Oriental Savoy Zurich.
(Reporting by Devik Jain in Bengaluru; editing by Uttaresh.V)
