Markets in Europe got off to a positive start Thursday and climbed during the first few hours of trade, before paring their early gains. The majority of the markets ended the day with modest gains, after struggling during the previous two sessions.
Traders remain in a cautious mood ahead of tomorrow’s U.S. jobs report. Lingering uncertainty about the final Republican tax reform bill is also weighed on investor sentiment, as well as Brexit concerns.
The U.K. Prime Minister Theresa May is likely to put forth a fresh offer to resolve Irish border dispute, as Brexit negotiator Michael Barnier issued a deadline to potential deal.
Barnier insisted that diplomats of the 27 member states have to sign the deal by Friday, if talks must move onto trade at a summit next week.
The pan-European Stoxx Europe 600 index advanced 0.02 percent. The Euro Stoxx 50 index of eurozone blue chip stocks increased 0.34 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.13 percent.
The DAX of Germany climbed 0.36 percent and the CAC 40 of France rose 0.18 percent. The FTSE 100 of the U.K. declined 0.37 percent and the SMI of Switzerland finished lower by 0.42 percent.
In Frankfurt, energy firm Uniper lost 1.98 percent despite confirming its earnings outlook for the current year and promising higher dividend next year.
Furniture retailer Steinhoff sank 45.34 percent to extend Wednesday’s slump, hit by news of the launch of an investigation into accounting irregularities.
In Paris, telecommunications firm Orange rallied 2.32 percent. The company targets growth in adjusted EBITDA of around 2 percent in 2017, followed by an acceleration of the growth rate in 2018 and continued growth in 2019 and 2020.
Carrefour declined 2.91 percent after Bernstein downgraded its rating on the stock to “Underperform” from “Market Perform.”
In London, RM Plc jumped 15.37 percent after the educational ICT and resources group said it expects results for the financial year ended November 30, 2017 to be ahead of expectations.
Ladbrokes Coral shares surged 28.86 percent after bookmaker GVC Holdings offered to buy the gambling giant for £3.9 billion ($5.2 billion).
William Hill leaped 8.10 percent. The company has reached an agreement with Scientific Games Corp. (SGMS) to unconditionally support Scientific Games’ proposed acquisition of NYX. Following the agreement all the parties have withdrawn from all litigation in the US and UK.
The euro area economy expanded, as initially…