Modupe Gbadeyanka
By Investors Hub
European stocks have risen on Thursday as hopes for more central bank stimulus has helped offset worries surrounding slowing global growth.
Adding to the positive sentiment, European Central Bank indicated interest rates will remain at their current level longer the previously forecast.
The ECB now says it does not expect any change in rates until after the first half of next year. Earlier, the bank forecast rates to remain unchanged at least through the end of this year.
While the U.K.?s FTSE 100 Index has climbed by 0.6 percent, the French CAC 40 Index is up by 0.4 percent and the German DAX Index is up by 0.2 percent.
Entertainment One has soared after the company behind Peppa Pig denied media reports President Mark Gordon is leaving the company.
Drug major AstraZeneca has also advanced. The company announced that the Phase III ELEVATE-TN trial of Calquence (acalabrutinib) met primary endpoint at interim analysis in previously-untreated chronic lymphocytic leukaemia.
On the other hand, shares of Renault have slumped after Fiat Chrysler Automobiles NV withdrew its proposal to merge with the French automaker.
Retail giant Carrefour has also moved to the downside after attributing a recent increase in sales to its use of blockchain tracking.
In economic news, the euro area economy expanded as initially estimated in the second quarter, mainly driven by household spending and investment, data from Eurostat showed.
GDP grew 0.4 percent sequentially, in line with the previous estimate and bigger than the 0.2 percent growth seen in the fourth quarter of 2018. On a yearly basis, GDP growth held steady at 1.2 percent in the first quarter.
German factory orders expanded at a slower pace in April on weak domestic demand, data from Destatis showed.
Factory orders grew 0.3 percent month-on-month in April, weaker than the revised 0.8 percent increase seen in March. However, the latest increase was slightly faster than the expected 0.2 percent.
