(Reuters) – European shares inched higher at open on Thursday heading into the long Easter weekend break, on a boost from energy stocks, while the benchmark index was on course to end a second consecutive quarter in the green.
The pan-European STOXX 600 edged 0.1% up and eked out a fresh record high, as of 0823 GMT.
The benchmark index is eyeing a second straight quarter of gains, up 6.9% so far, fuelled by a rally in technology stocks on the back of artificial intelligence fervour and interest rate cut signals from major central banks.
Oil and gas shares were the biggest boost, up 0.4% as oil prices advanced following two consecutive sessions of declines. [O/R]
Market focus, however, squarely remains on the U.S. personal consumption expenditure data, due on Friday when markets are closed, to ascertain the Federal Reserve’s timing of rate cuts, potentially setting the tone for other central banks.
Among stocks, JD Sports surged 8.3% to the top of STOXX 600 as the sportswear retailer said its pre-tax profit for the year ahead was in line with its guidance.
The stock lifted the broader retail sector up 0.7%.
Casino slumped 62.5% after the French food retailer completed its financial restructuring and said a new leadership team formed around Czech billionaire Daniel Kretinsky was taking control.
(Reporting by Shristi Achar A in Bengaluru; Editing by Mrigank Dhaniwala)
Comments