Modupe Gbadeyanka
By Investors Hub
European stocks have turned mixed in cautious trading on Thursday amid a rebound in oil prices and gains in the banking sector on a day of hectic political and economic activity.
Traders are digesting the European Central Bank’s latest monetary policy announcement, with the ECB leaving its benchmark interest rate unchanged.
The ECB said interest rates are expected to remain at their present levels for an extended period of time but dropped any reference to a future rate cut.
While the German DAX Index is up by 0.3 percent, the French CAC 40 Index is down by 0.1 percent and the U.K.’s FTSE 100 Index is down by 0.3 percent.
On the economic front, German industrial output recovered in April after falling slightly in March and revised data showed the euro zone economy expanded more than initially estimated in the first quarter.
Heidelberger Druckmaschinen has rallied after the company took over the coatings and pressroom chemicals operations in the EMEA region of its strategic partner Fujifilm Europe BV.
Euler Hermes shares have also advanced after Bloomberg reported that German insurer Allianz is exploring a plan to take the French credit insurance company private.
Berendsen shares have soared after the company finally agreed to a takeover offer from French laundry services group Elis. Petrofac has also jumped after signing a long-term framework agreement with Petroleum Development Oman.
