European Shares Edge Higher After Fed's Hawkish Hike; Eyes Turn To BoE
(RTTNews) - European stocks edged higher on Thursday, extending gains from the previous session as oil prices retreated and a global bond selloff paused following Wednesday's hawkish Fed hike.
Brent crude futures fell toward $104 a barrel, extending losses from the previous session as reports of additional Saudi crude cargoes through Oman helped ease supply concerns.
U.S. Treasury yields declined in European trade, reflecting markets' increased trust in the Federal Reserve's resolve to bring inflation under control.
Attention now shifts to the Bank of England, which is anticipated to maintain interest rates at 3.75 percent later in the day, despite rising inflation in the U.K. The pan-European STOXX 600 rose half a percent to 640.22 while the German DAX, France's CAC 40 and the U.K.'s FTSE 100 were up between 0.2 percent and half a percent.
German pharma major Bayer was modestly higher after the U.S. FDA approved Kerendia for chronic kidney disease in type-1 diabetes adults.
Industrial services provider Bilfinger nosedived 20 percent after cutting its 2026 revenue outlook.
U.K. fashion retailer Next advanced 1.2 percent after reporting improved first-half earnings and raising its annual profit guidance.
Wizz Air Holdings rallied 3 percent. The low-cost airline raised its second-quarter revenue per available seat kilometer (RASK) outlook and outlined its medium-term strategy through fiscal 2030, targeting €10 billion in revenue and a 10 percent EBIT margin.
Shares of Volvo Car rose nearly 2 percent. The Swedish premium carmaker said it plans to launch 13 new and regionally tailored electrified cars by the end of 2030, its largest-ever product offensive.
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