City of London skyline on 10th June 2024 in London, United Kingdom. The City of London is a city, ceremonial county and local government district that contains the primary central business district CBD of London. Mike Kemp | In Pictures | Getty Images LONDON — European stocks were higher Thursday morning, spurred on by overnight gains in Asia-Pacific markets.
The pan-European Stoxx 600 was up around 1% at around 10:40 a.m. London time, with most sectors and major bourses in positive territory.
Mining stocks led the gains, up more than 3.6%, with tech and household goods stocks both around 3% higher. Oil and gas stocks, however, fell more than 2.
8% as crude prices dropped on a Financial Times report that Saudi Arabia is preparing to scrap its unofficial oil price target of $100 a barrel. Energy firms including BP , Shell and TotalEnergies all traded more than 3% lower. Stock picks and investing trends from CNBC Pro: Blackstone exec reveals where to make money when investing in India — and the mistakes to avoid These outperforming stocks are still set to soar, analysts say, giving 3 more than 30% upside These 4 Asian stocks are set to pop on an AI server cooling boom, Nomura says The relatively upbeat start to Europe's trading day comes after Asia-Pacific markets rose overnight.
Hong Kong's Hang Seng index advanced 4.16%, reaching its highest level since May, while mainland China's CSI 300 extended its winning streak to the seventh day. Meanwhile, Japan's Nikkei 225 climbed.