European stocks finished a choppy session with modest gains on Thursdsay, with enthusiasm subdued despite a long-awaited deal in Greece to adopt new austerity measures.
By meeting the demands of a Troika of lenders, Greece will likely get the funds that will allow it to avert a potentially catastrophic default in March.
The deal was confirmed by European Central Bank President Mario Draghi at a press conference explaining the ECB's decision to hold steady on interest rates.
The ECB also eased collateral rules for credit operations.
Meanwhile, The Bank of England is boosting its quantitative easing program.
The Monetary Policy Committee led by Governor Mervyn King raised the size of quantitative easing by GBP 50 billion to GBP 325 billion. The programme is expected to take three months to complete.
The Euro Stoxx 50 index of eurozone bluechip stocks picked up 0.33 percent while the Stoxx Europe 50 index, which includes some major U.K. companies, rose 0.19 percent.
Around Europe, the U.K.'s FTSE 100, Germany's DAX unofficially rose 0.58 percent, France's CAC picked up 0.43 percent, while Switzerland's SMI gained 0.31 percent, and the U.K.'s FTSE 100 picked up 0.28 percent.
Daimler rose 4.3 percent after the German automotive major reported a 57 percent growth in its fourth-quarter profit, helped by improved sales volumes in all divisions, particularly in Mercedes-Benz Cars and Daimler Trucks.
Volkswagen gained 2.1 percent after the auto giant said it is considering to expand production in Malaysia, according to a Bloomberg report, quoting a person familiar with the matter.
Credit Suisse Group was down after the Swiss banking giant reported fourth-quarter net loss attributable to shareholders of CHF 637 million or CHF 0.62 per share compared to net income of CHF 841 million or CHF 0.59 per share last year.
Rio Tinto eased 1.6 percent in London after the mining giant reported a decline in 2011 profit attributable to owners to $5.83 billion from last year's $14.24 billion. Underlying earnings, however, went up to $15.55 billion from $13.99 billion a year ago.
Shares of Vodafone Group were up fractionally after the British telecoms giant reported a 2.3 percent fall in revenues for the third quarter ended December amid competitive market conditions and a particularly challenging southern Europe. The company,meanwhile, confirmed its full-year 2012 guidance.
Specialty pharmaceutical company Shire plc said profit in the fourth quarter increased significantly from last year, amid strong demand for its attention deficiency drugs. The stock rose fractionally.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.