European stock markets posted broad-based gains on Thursday, with the trading mood lifted after stellar earnings from U.S. tech giants Apple and Facebook and upbeat German confidence data.
European Central Bank President Mario Draghi also was in focus. Draghi said any worsening of inflation outlook may lead to asset buying, falling longterm interest rates can boost inflation, unconventional measures could have side effects and rising euro reflects return of confidence in Eurozone. He also convinced that publishing ECB minutes would be useful.
The Stoxx Europe 600 index climbed 0.6% to 337.00, recovering from a 0.6% loss on Wednesday. On the week, the benchmark was looking at a 1.4% gain.
Germany’s DAX 30 index gained 0.8%, while France’s CAC 40 index added 0.8%. The U.K.’s FTSE 100 index advanced 0.5%.
German IFO results boosted the European benchmarks, with Expectations (107.3) and Business Climate (111.2) surpassing expectations at 105.8 and 110.5, respectively for the month of April.
Shares of Alstom SA rallied 11% after reports that General Electric Co. is looking to buy the French industrial company.
Shares of Anglo American PLC up 3% after the miner said output rose in the first quarter, with iron-ore production up 10% due to solid performances from its two South African iron-ore mines.
Other mining firms tracked Anglo American higher, with shares of Fresnillo PLC up 1.3%, Rio Tinto PLC rising 1.3%, and BHP Billiton PLC 0.7% higher.
Shares of AstraZeneca PLC climbed 2.8% after the drug maker confirmed its 2014 financial guidance. The company, however, posted a fall in first-quarter profit as sales of its best-selling drugs continued to be squeezed by generic competition. Earlier in the week, AstraZeneca was among major advancers after a report that Pfizer Inc. had approached the U.K. drug maker about a possible merger.
Barclays PLC shares gained 1.2%.
But shares of Unilever PLC dropped 1.4% after the consumer-products giant reported a fall in first-quarter sales.
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