European Shares Rebound In Cautious Trade

European stocks were modestly higher on Thursday as investors held out hopes that the U.S. and China will eventually mull new trade talks, which could end with a bilateral solution to the trade dispute.

The pan-European Stoxx Europe 600 index was up 0.4 percent at 382.90 in late opening deals after losing 1.3 percent the previous day.

The German DAX and France’s CAC 40 index were moving up around 0.3 percent each, while the U.K.’s FTSE 100 was climbing 0.6 percent.

Gerresheimer soared 9 percent in Frankfurt after announcing the acquisition of Swiss technology company Sensile Medical.

Capita Group jumped 5 percent in London. The outsourcing firm has announced an agreement to sell its parking management business, ParkingEye, to a vehicle owned by Macquarie and funds advised by MML Capital Partners for a cash consideration of 235 million pounds.

Sky Plc shares advanced 2.5 percent after Comcast Corp. increased its takeover bid for the British broadcaster.

Genmab rose over 1 percent. The Danish biotechnology company has entered into a research collaboration and exclusive license agreement with privately-owned Immatics Biotechnologies GmbH.

Norwegian bank DNB slumped 4.4 percent after its Q2 earnings fell short of estimates.

On the data front, German consumer prices climbed 2.1 percent year-over-year in June, just below the 2.2 percent rise in May, final data from Destatis revealed. That was in line with the flash estimate published on June 28.

French consumer prices climbed 2.0 percent year-over-year in June, the same rate of increase as in May, final figures from the statistical office Insee showed. The preliminary estimate for June was 2.1 percent.

Eurozone industrial production data for May came more or less in line with estimates.

The European Commission trimmed its growth forecast for euro area this year to 2.1 percent from 2.3 percent estimated previously, as economic momentum moderated in the first half of 2018 after five straight quarters of vigorous expansion.

by RTTNews Staff Writer

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