European Stocks Jump as Italy Prepares for Collation Govt

By Investors Hub

European stocks are broadly higher on Thursday as firmer commodity prices have helped lift resource stocks and Italian equities recovered some lost ground as the country looks set to finally get a collation government.

While the French CAC 40 Index has advanced by 0.5 percent, the German DAX Index and the U.K.?s FTSE 100 Index are up by 0.3 percent and 0.2 percent, respectively.

Daimler has risen while Deutsche Telekom has fallen slightly after they settled a 14-year old truck-toll dispute with the German government.

Italian telecom giant Telecom Italia has advanced after its first quarter sales topped forecasts.

Renault, Peugeot, BMW and Volkswagen have moved to the upside after industry data showed European car registrations grew 9.6 percent year-on-year in April.

Media conglomerate Lagardère has also rallied after delivering 5 percent growth in like-for-like revenue for the first-quarter 2018, fueled by organic growth momentum at Lagardère Travel Retail and a good performance from Lagardère Publishing.

Ocado shares have soared after the online grocer struck a deal with U.S. retail giant Kroger.

Meanwhile, holidays group Thomas Cook has tumbled after reporting a pre-tax loss during its first-half.