European Shares Gain Before ECB Verdict

(RTTNews) - European stocks traded higher on Thursday as investors digested a slew of earnings and awaited the European Central Bank's interest-rate decision.

The central bank is widely expected to lower its key interest rates by 25 basis points later in the day, responding to falling inflation and worsening economic conditions.

Commentary from ECB's President Christine Lagarde may influence markets as the day progresses.

The pan European STOXX 600 rose half a percent to 522.31 after falling 0.2 percent on Wednesday.

The German DAX climbed 0.7 percent, France's CAC 40 climbed 1.1 percent and the U.K.'s FTSE 100 was up 0.3 percent.

In corporate news, Swiss lift-and escalator maker Schindler climbed 3.3 percent after reporting a 0.9 percent fall in its third-quarter sales.

Nescafe coffee maker Nestle gained 2.1 percent despite cutting its full-year sales outlook.

Finnish telecom equipment supplier Nokia slumped 4.4 percent after quarterly sales missed estimates.

Lender Nordea surged 6.2 percent after raising its full-year outlook and announcing a new share buyback program.

Miners traded mixed, with Antofagasta falling over 2 percent in London after another much-anticipated policy briefing by China's housing ministry failed to impress investors.

Smiths Group and Persimmon both lost around 2 percent on going ex-dividend.

Mondi plunged 6.6 percent after the packing company posted a sequential fall in Q3 profit.

Entain soared 5.2 percent after the gambling group exceeded Q3 expectations and raised its 2024 net gaming revenue outlook.

Pest control services group Rentokil Initial soared nearly 9 percent after holding on to its full-year guidance.

Schneider Electric rallied 2.4 percent in Paris after it agreed to acquire a controlling stake in Motivair Corporation, a firm specializing in advanced liquid cooling for high-performance computing.

Advertising group Publicis Groupe gained 2 percent after revising its global forecast for 2024 upwards for a second time.

Getlink jumped 2.5 percent after the Channel tunnel operator posted better-than-expected Q3 revenue.

Spirits maker Pernod Ricard rose 1.7 percent. After a disappointing start to its financial year, the company said it expects to be back on the growth track by next summer.

Sartorius AG shares jumped 12.5 percent. The German pharmaceutical and laboratory equipment supplier confirmed its full-year outlook after reporting sold results for the third quarter.

Merck KGaA soared 5.2 percent after reaffirming its annual guidance for earnings per share.