Market Update
European markets were up Thursday tracking gains in Asian markets after better-than-expected Chinese data.
The FTSE was up 0.4%. The CAC 40 Paris was up 0.6% while the DAX added 0.7%.
Earlier, China reported upbeat trade data that boosted investor sentiment and sent shares in a northerly direction in Asian trading.
Sentiment was also lifted after signs of a let-up in fighting in Ukraine after Russian President Valdimir Putin said Russian forces had withdrawn from the border. Putin also stressed Russia will do "all it can" to resolve the crisis.
In Europe, data showed weaker-than-expected German industrial output in March as construction and manufacturing declined from February. However, the Economy Ministry said the outlook for the sector was still bright.
Later, the European Central Bank is due to announce its interest rate decision followed by a news conference. An interest rate decision is also due from the Bank of England.
Stocks on the Move
Copper prices were higher after the release of the Chinese trade data. Miners were mostly gainers with BHP Billiton up 0.2% in London while Anglo American gained 0.8%. Glencore Xstrata was up 0.7%.
China is the world’s largest consumer of copper, accounting for as much as 40% of world consumption in 2013.
HSBC was down 0.2% but Barclays PLC surged 4.4%. Barclays is expected to announce later today the slashing of some 20,000 jobs, according to Britain's Sky News.
Over in Zurich, shares of the world's largest staffing company Adecco added 2% after the firm reported results in line with expectations.
Vallourec SA was up 1.4% after the French pipes and tubes maker said it would step up cost saving measures following its results.
Deutsche Bank was up about a percent.