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European Shares Inch Higher In Cautious Trade

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European stocks were broadly higher on Thursday as firmer commodity prices helped lift resource stocks and Italian equities recovered some lost ground as the country looks set to finally get a collation government.

Meanwhile, the United States and China are resuming trade talks today in a bid to avert a damaging tariff war.

The pan-European Stoxx 600 was up 0.1 percent to hold at more than three month high, while the German DAX was marginally higher and France's CAC 40 index was moving up 0.3 percent.

The U.K.'s FTSE 100 was marginally lower as the pound pushed higher following reports that Britain will tell Brussels it is prepared to stay in the European Union's customs union beyond 2021.

Daimler rose half a percent while Deutsche Telekom fell slightly after they settled a 14-year old truck-toll dispute with the German government.

Italian telecom giant Telecom Italia advanced 1.5 percent after its first-quarter sales topped forecasts.

Renault, Peugeot, BMW and Volkswagen rose 1-2 percent after industry data showed European car registrations grew 9.6 percent year-on-year in April, reversing a 5.3 percent fall in March.

Media conglomerate Lagardère rallied 2.4 percent after delivering 5 percent growth in like-for-like revenue for the first-quarter 2018, fueled by organic growth momentum at Lagardère Travel Retail and a good performance from Lagardère Publishing.

Holidays group Thomas Cook tumbled 3 percent after reporting a pre-tax loss during its first-half.

Ocado shares soared 43 percent after the online grocer struck a deal with U.S. retail giant Kroger.

by RTTNews Staff Writer

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