Modupe Gbadeyanka
By Investors Hub
European stocks are mostly higher on Thursday even as U.K. markets fell for a second consecutive session on further gains in the pound amid signs of progress on the EU’s key Brexit issues, including the Irish border.
While a selloff in technology stocks subsided, the day’s economic reports painted a mostly positive picture of regional economies.
The U.K.’s FTSE 100 Index has dipped by 0.2 percent, but the French CAC 40 Index is up by 0.3 percent and the German DAX Index is up by 0.6 percent.
Swiss lender Credit Suisse has jumped after it unveiled plans to boost shareholder returns as part of its annual investor day.
French carmaker Peugeot has also moved to the upside after reports that its parent company PSA Group is seeking to recover 600 million euros from General Motors in relation to its acquisition of Opel.
Aviva has rallied after the insurance giant upgraded its targets for earnings growth, cash and dividend at a conference for investors and analysts.
Exchange operator Euronext has also moved notably higher after acquiring the Irish Stock Exchange for 137 million euros.
On the other hand, Daily Mail and General Trust shares have fallen sharply after the company reported a full-year loss and warned that next year’s advertising revenues could be adversely affected by recent disposals and challenging conditions.
In economic news, German inflation accelerated more than anticipated in November and the unemployment total fell more than expected, while retail sales marked the first drop in eight months in October, separate reports showed.
French inflation rose slightly to 1.2 percent in November from 1.1 percent in October, flash data from statistical office Insee showed. The rate matched economists’ expectations.
Eurozone consumer price inflation advanced 1.5 percent year-on-year in November following October’s 1.4 percent increase, while the region’s jobless rate fell to the lowest level since early 2009.
