European stocks inched up Thursday, boosted by hopes for monetary policy stimulus from an important European Central Bank meeting, plus encouraging signals from the U.S.-China trade tussle.
The Stoxx Europe 600
rose less than a percent to 389.88.
Stocks in the mining, apparel, beverages and tobacco sectors were making the biggest advances, while oil and banks
and insurers advanced, while energy names such as Total SA
and BP PLC
The German DAX
rose 0.2% to 12382.70, the French CAC 40
rose 0.4% to 5618.06 and the U.K. FTSE 100
gained 0.3% to 7363.21.
U.S. stock futures
rose on the heels of the 6th-straight gain for the Dow industrials
and the 5th-straight win for the S&P 500
on Wednesday. Stock futures got a boost after U.S. President Donald Trump tweeted that he would delay tariff hikes against China until October 15. That comes a day after China announced a list of 16 U.S. products that would be exempt from a coming round of its own tariff hikes.
The main event for investors Thursday will be an ECB policy decision, expected at 1:45 p.m. local time (7:45 a.m. Eastern), followed by a news conference with President Mario Draghi at 2:30 p.m. The central bank is expected to push its deposit rate further into negative territory and potentially embark on a new round of asset buying.
“While it seems the ECB will throw the kitchen sink at slow growth and persistently lackluster inflation, markets seem to want the taps, the plug and the plumbing thrown in for good measure too,” said Neil Wilson, chief market analyst, Markets.com, in a note to clients.
Of companies in the spotlight, shares of Alstom SA
tumbled nearly 5% after French telecoms group Bouygues SA
said it has sold a 13% stake in the French multinational group
shares jumped 4% on Thursday amid reports the parent of beer giant Budweiser is planning to list a slimmer version of its Asia unit.
In London, shares of British American Tobacco
climbed 3% after the company said it would lay off 2,300 employees by 2020. And the London Stock Exchange
slipped 0.6% after the Financial Times reported the group would reject a nearly $40 billion (30 billion pounds) buyout offer from Hong Kong Exchanges and Clearing.