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European stocks were broadly higher on Thursday as the outlook for more global stimulus got a major boost overnight from a surprisingly soft reading on core U.S. inflation and dovish comments by Federal Reserve chairman Jerome Powell. <\/p>\n
Powell said he wanted to see inflation at 2 percent or more before even thinking of tapering the bank’s super-easy policies.<\/p>\n
The pan European Stoxx 600 rose 0.3 percent to 410.63 after declining 0.2 percent on Wednesday. <\/p>\n
The German DAX gained half a percent and the U.K.’s FTSE 100 edged up 0.2 percent while France’s CAC 40 index was marginally lower. <\/p>\n
Unibail-Rodamco shares plunged as much as 14 percent. After posting a full-year net loss, the mall operator said it will not pay a dividend for three years.<\/p>\n
Italian lender UniCredit lost 2.8 percent after posting a bigger-than-expected quarterly loss. <\/p>\n
Clariant declined 2.5 percent. After reporting lower sales for 2020, the Swiss specialty chemicals maker said the effects of the coronavirus<\/span> pandemic are likely to continue into 2021.<\/p>\n Life insurance company Aegon climbed 3.5 percent after its underlying earnings before tax for second half of fiscal 2020 rose 7 percent.<\/p>\n French food company Danone rallied 3 percent after U.S. investment group Artisan Partners added its voice to calls for structural change at the company.<\/p>\n Beverage company Pernod Ricard gave up 2 percent after reporting lower sales and earnings in the first half of its fiscal year.<\/p>\n Cr\u00e9dit Agricole S.A. jumped nearly 4 percent. The bank reported lower provisions and a larger-than-expected return to dividends.<\/p>\n Schneider Electric advanced 2.5 percent. The electrical equipment group proposed a dividend increase despite posting a decline in 2020 net profit.<\/p>\n German lender Commerzbank plummeted 6.2 percent after its net loss deepened to $3.3 billion in the fourth quarter.<\/p>\n British drug maker AstraZeneca gained 2 percent after it reported a 10 percent rise in product sales for 2020.<\/p>\n Postal service company Royal Mail soared 5 percent. The company reported a strong rise in parcel revenues over Christmas period and said it expects full-year group adjusted profit to be “well in excess” of \u00a3500m.<\/p>\n Total SE dropped 1.3 percent, BP Plc lost 1 percent and Royal Dutch Shell fell 1.7 percent as oil prices took a breather after enjoying the longest winning streak in two years.<\/p>\n In economic releases, U.K. house prices continued to increase while there was a general weaker trend in sales market at the start of the year, the Royal Institution of Chartered Surveyors said. <\/p>\n<\/p>\n Business News<\/p>\n<\/div>\n