European stock markets climbed on Thursday, tracking an upbeat session in Asia where better-than-expected trade data from China lifted the mood. Investors were also waiting for policy decisions from the European Central Bank and the Bank of England.
The ECB will keep its benchmark interest rate at a record-low 0.25%, according to economists. Draghi last month pledged to take additional policy action if a stronger currency keeps inflation depressed.
BoE left its rate unchanged at 0,25% and Asset Purchase Facility at £375B
The Stoxx Europe 600 index gained 0.4% to 337.50, on track to break a four-day losing streak.
The U.K.’s FTSE 100 index gained 0.5%, while Germany’s DAX 30 index climbed 0.6% and France’s CAC 40 index rose 0.5%.
Shares of Barclays PLC gained 3.9% after the U.K. bank presented its strategy update, including plans to cut 7,000 jobs at its investment bank over the next two years.
Shares of Metro AG rallied 4.4% after the German retailer backed its 2014 guidance, even as it reported a widened second-quarter loss.
Enel (ENEL), Italy’s biggest utility, added 2.1%. Adjusted net income fell to 782 million euros ($1.1 billion) from 852 million euros a year earlier, according to a statement. Analysts had predicted 750 million euros.
Munich Re slipped 1.9%, taking its losses since reaching 11-year high on April 29 to 7.7%. Net income fell to 919 million euros.
Deutsche Telekom AG slid 0.9%. Europe’s largest telecommunications company reported that first-quarter Ebitda slipped to 4.12 billion euros, excluding some items. Analysts on average predicted profit of 4.15 billion euros. Sales rose 8% to 14.9 billion euros, matching projections.
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