BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed higher on Thursday with investors digesting Eurozone private sector and producer price inflation data, the minutes of European Central Bank's most recent policy meeting and Fed Chair Jerome Powell's comments on interest rate outlook, and awaiting the crucial U.S. non-farm payroll data due on Friday.
The ECB's rate-setters were increasingly confident of inflation on track to reach the 2 percent target, but saw the need for patience even as they agreed the scope for an interest rate cut has strengthened, minutes of the March 6-7 policy session showed.
The pan European Stoxx 600 ended up by 0.16%. The U.K.'s FTSE 100 gained 0.48% and Germany's DAX ended higher by 0.19%, while France's CAC 40 edged down 0.02%. Switzerland's SMI climbed 0.64%.
Among other markets in Europe, Austria, Belgium, Finland, Greece, Iceland, Ireland, Poland, Russia, Spain, Sweden and Turkiye closed higher.
Czech Republic and Denmark ended weak, while Netherlands, Norway and Portugal closed flat.
In the UK market, Entain gained nearly 5%. The company said Chair Barry Gibson would step down by September-end after more than four years in the role.
Antofagasta, Mondi, Fresnillo, Anglo American Plc, Lloyds Banking, Natwest Group, EasyJet, Reckitt Benckiser, Barclays, DS Smith, Ashtead, RS Group and Legal & General gained 2 to 4%.
Ocado Group, St. James's Place, Admiral Group, IHG, Convatec Group, Vodafone, Whitbread, Croda International and Rolls-Royce Holdings lost 1 to 2.5%.
In the German market, Siemens Energy, BKW, Volkswagen, Fresenius, RWE, Mercedes-Benz, Daimler Truck Holding, Puma, Infineon and Fresenius Medical Care advanced 1 to 3.2%.
Qiagen, Symrise, Munich RE, Hannover Rueck, Henkel and Merck lost 1 to 1.6%.
In the French market, Renault rallied more than 3%. Saint Gobain, WorldLine, Eurofins Scientific, Unibail Rodamco, Edenred, BNP Paribas, Kering, Credit Agricole, Societe Generale and Veolia posted sharp to moderate gains.
Essilor, Carrefour, Vinci, Pernod Ricard and Air Liquide ended notably lower.
Shares of Swedish firm Volvo Car AB rallied nearly 7% after the luxury auto major reported significant growth in vehicle sales in the month of March as well as in the first quarter.
Basilea soared 12.4% after the pharma company received the U.S. regulatory approval for Zevtera, an antibiotic for the treatment of multiple infections.
Final survey results of the purchasing managers' survey by S&P Global showed that the euro area private sector expanded in March, halting a sequence of contraction that started last June. The final HCOB composite output index rose to a ten-month high of 50.3 in March from 49.2 in February. At 49.9, the flash reading had signaled another month of decline in activity.
Eurozone producer prices logged a further steep decline in February, falling by 8.3% in the month (year-over-year), amid a continued downward trend in energy prices, data published by Eurostat showed. That was more than the revised 8% decrease in January. Prices were expected to decline by 8.6%.
The UK service sector signaled further solid expansion in March, though at the slowest pace in four months amid a weaker rise in new business, final data from S&P Global showed.
The services purchasing managers' index fell to 53.1 in March from 53.8 in February. That was also below the flash score of 53.4. However, a score above 50 indicates expansion.
The UK service sector expanded for the fifth consecutive month in March, although at the weakest pace since November 2023.
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