Doha: European stocks rose to a six-week high on Thursday, amid optimism about a possible EU-US trade agreement, while investors awaited the European Central Bank’s rate decision later. The pan-European STOXX 600 index rose 0.6 percent in morning trading, reaching its highest level since June 11. Germany’s DAX index jumped 0.9 percent, while UK’s FTSE 100 index rose 0.6 percent to reach an all-time high, extending its gains for the sixth consecutive session.
According to Qatar News Agency, bank stocks led the gains among European sectors, rising 2.3 percent, supported by gains at Deutsche Bank and BNP Paribas. German Deutsche Bank shares climbed 4.4 percent after reporting better-than-expected second-quarter profit. French bank BNP Paribas gained 1.9 percent after reporting a smaller-than-expected decline in second-quarter profit.
Shares of Swiss drugmaker Roche advanced 2 percent, giving the STOXX 600 a boost after the company reported better-than-expected first-half operating profit. Conversely, shares of Swiss consumer goods giant Nestl© fell 4.5 percent after it announced first-half results and a strategic review of its business.