European stock markets headed for a fifth straight day of gains on Thursday, with investors increasingly hoping for a rate cut at the European Central Bank’s policy-setting meeting next week after a disappointing string of data.
“Many economists are pointing out that a short period of bad data may just encourage policy officials to maintain or even enhance current stimulus measures,” said Shavaz Dhalla, financial trader at Spreadex.
The Stoxx Europe 600 index XX:SXXP +0.11% rose 0.2% to 295.32. British American Tobacco PLC UK:BATS +2.14% BTI -0.05% gained 2.3%, after a well-received earnings report. Vodafone Group PLC UK:VOD +2.10% VOD -0.69%added 1.2%, after reports Verizon Communications VZ -0.99% plans to bid for joint venture Verizon Wireless. Unilever PLC lost 2.7%, after the consumer-goods firm said first-quarter sales growth rose less than expected.
The U.K.’s FTSE 100 index UK:UKX -0.12% traded 0.5% higher at 6,461.51, while France’s CAC 40 index FR:PX1 -0.32%was slightly higher at 3,843.44. Germany’s DAX 30 index DX:DAX +0.15% added 0.3% to 7,783.60.
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