European stocks opened slightly higher on Thursday, with the British General Elections drawing attention across the region. The Stoxx Europe 600 index saw a modest rise of 0.2% in early trading, with mixed performance across sectors. Banks led the gains with a 0.9% increase, while the healthcare sector experienced a slight dip of 0.13%.
In the US, the S&P 500 hit new highs during Wednesday’s shortened trading session as investors seemed to disregard lacklustre economic data. Trading volume was light, with the New York Stock Exchange closing early at 1 pm ET ahead of the Independence Day holiday on Thursday.
German manufacturer Continental AG surged 9.7%, topping the index after JPMorgan analysts predicted benefits for the company’s automotive division from price increases, cost savings, and reimbursements in the second quarter, according to a Reuters report.
Yields On UK Government Bonds Edge Higher
Yields on UK government bonds, known as gilts, edged slightly higher as of 8:15 am in London. The two-year yield rose by one basis point to 4.175%. Meanwhile, the British pound remained nearly flat against both the U.S. dollar and the euro.
Overnight, Asia-Pacific markets mostly saw gains on Thursday, with Japan’s Topix reaching a new all-time high of 2,886.50, surpassing its previous record set in December 1989.