European shares rose on Thursday, as artificial intelligence-driven optimism offset lingering concerns about a deadlock in US-Iran peace talks, while a high stakes US-China summit was also on investors’ radar.
The pan-European Stoxx 600 was 0.4 per cent higher at 614.05 points, as of 0703 GMT, after rising 0.8 per cent on Wednesday. Some local markets were closed due to a public holiday, likely keeping trading volumes light.
Official data showed Britain’s economy expanded unexpectedly in March by 0.3 per cent. The blue-chip FTSE 100 was up 0.2 per cent.
Despite recent gains, European equities remain below pre-war levels, with inflation data highlighting the impact of higher oil prices on the import-dependent region.
European Central Bank’s chief economist Philip Lane became the latest member of the bank to say interest rate hikes might be required to deal with inflation.
