BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were modestly higher on Thursday after suffering heavy losses the previous day on concerns about rising coronavirus cases and the impact of tough lockdown restrictions.
Key focus is on the European Central Bank meeting later today, with investors looking for a dovish statement and hints at more asset purchases. ECB President Christine Lagarde is set to hold customary press conference at 9.30 am ET.
The pan European Stoxx 600 rose half a percent to 343.97 after losing 3 percent on Wednesday. The German DAX gained 0.8 percent, France's CAC 40 index added 0.4 percent and the U.K.'s FTSE 100 was up 0.2 percent.
The British pound strengthened versus the euro amid optimism that the U.K. and EU were making progress in securing a trade deal.
Dutch chip-equipment maker ASM International NV surged 4 percent after raising its guidance for the fourth quarter.
Swiss lender Credit Suisse Group AG fell 5 percent after it posted a steeper-than-expected slide in third-quarter profit.
Nokia shares plunged over 16 percent. The Finnish telecom network equipment maker cut its full-year profit forecast and announced a new strategy under which it will have four business groups.
British telecoms giant BT Group jumped 7 percent after boosting its earnings guidance for the full year.
Royal Dutch Shell rallied 2.3 percent. The oil major increased dividend to shareholders after posting better-than-expected third-quarter earnings.
Smith+Nephew shares fell about 1 percent. The medical technology company reported a fall in quarterly underlying revenue.
Lender Standard Chartered slumped 5.2 percent after its third-quarter pretax underlying profit declined 40 percent.
Lloyds Banking Group rose about 3 percent. The bank posted a forecast-beating quarterly profit amid a surge in demand for home loans.
French telecoms operator Orange surged 5.4 percent after its third-quarter core operating profit topped expectations.
Airbus dropped 1.5 percent. The aerospace and defense company reported a third quarter net loss of 767 million euros compared to profit of 989 million euros last year.
LVMH shares gained about 1 percent after the luxury giant agreed to buy Tiffany & Co. at a reduced price of almost $16 billion.
Volkswagen climbed 3 percent after the German automaker returned to a profit in the third quarter.
Aixtron, a provider of deposition equipment to the semiconductor industry, slumped 14 percent after its net income for the first nine months of 2020 dropped to 9.6 million euros from the prior year's level of 20.2 million euros.
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