European Shares Advance Ahead Of Growth Data

(RTTNews) - European stocks traded higher on Thursday, with underlying sentiment supported by positive corporate and earnings news.

On a busy day of economic calendar, investors await the release of the eurozone's second estimate for gross domestic product growth and third-quarter flash employment data later in the day.

Minutes from the European Central Bank's (ECB) October policy meeting may also garner investor attention.

The pan European STOXX 600 rose half a percent to 504.13 after closing 0.1 percent lower on Wednesday.

The German DAX rallied 1.2 percent, France's CAC 40 rose 0.7 percent and the U.K.'s FTSE 100 was marginally higher.

Monte dei Paschi di Siena jumped 12 percent after the Italian government sold a 15 percent stake in the bank to rival Banco BPM. Shares of the latter were up 4.7 percent.

Dutch chip equipment maker ASML rallied nearly 5 percent after saying it expects sales to grow by 8 percent to 14 percent over the coming five years.

Burberry shares jumped nearly 15 percent in London after new CEO of the fashion brand, Joshua Schulman, pledged to "stabilize the business" with a turnaround plan.

Insurer Aviva surged 4 percent after a strong Q3 update, showing continued growth across various business lines.

Premier Foods added 1.6 percent after reporting higher first-half revenues and profits as consumers switched back to brands.

Alstom rose climbed over 4 percent. The French train maker beat expectations for its half-year cash position, helped by increased volumes and cost saving initiatives.

SCOR SE jumped 8.7 percent. The reinsurer reported a group net loss in Q3 2024, but its P&C segment saw a very strong performance, with a combined ratio of 88.3 percent.

Deutsche Telekom gained 3 percent after the German telecoms group beat third-quarter profit expectations and raised its full-year core profit guidance.

Engineering group Siemens soared almost 9 percent after Q4 earnings topped expectations.