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European Shares Pare Early Gains In Cautious Trade


European stocks rose on Thursday to extend gains from the previous session, as the U.S. election uncertainty faded in the rear-view mirror, Chinese trade data topped forecasts and investors turned their attention to a monetary policy announcement from the Federal Reserve, due later in the day.

No change in the Fed rate is expected, but traders will be looking for new clues as to whether there will be a December rate hike.

The pan-European Stoxx Europe 600 index was up 0.35 percent at 367.66 in opening deals after climbing 1.1 percent the previous day.

The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were marginally higher, paring early gains as investors digest mixed corporate earnings results.

British drugmaker Hikma Pharmaceuticals jumped 7 percent after raising full-year revenue expectations for its injectables division.

HeidelbergCement climbed 2.7 percent in Frankfurt. The cement maker affirmed its FY18 profit outlook after reporting a 12 percent increase in Q3 profit.

Siemens advanced 1 percent. The engineering firm raised dividend and announced a share buyback.

Commerzbank jumped 5 percent. The German lender reported a decline in third-quarter earnings, but backed its FY outlook and maintained dividend pledge.

Societe Generale shares jumped 3 percent in Paris. The French lender reported a 32 percent rise in third-quarter net income on strong revenue growth.

Italian lender UniCredit tumbled 3 percent after its third-quarter net profit fell 99.0 percent to 29 million euros from 2.82 billion euros last year.

Inmarsat slumped 7.2 percent in London. The mobile satellite company has reported a drop in revenue in its major Maritime division.

In economic news, Germany's exports and imports declined unexpectedly in September, official data revealed.

Exports dropped 0.8 percent month-on-month, reversing a 0.1 percent rise in August. At the same time, imports slid 0.4 percent following August's 2.4 percent decrease. Economists had forecast a 0.3 percent rise in exports and a 0.8 percent increase in imports.

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