European stocks open higher on tech boost, ahead of central bank decision-making wave – Markets

European shares opened higher on Thursday, boosted by rising technology stocks, with the focus later in the day squarely on interest rate decisions from several central banks in the region.

The pan-European STOXX 600 gained 0.3% as of 0713 GMT.

Technology stocks led the gains, rising 0.7%, while the construction and materials sector also rose 0.7%.

The technology index was led higher by ASMI, which rose 4.1% after Morgan Stanley upgraded the semiconductor equipment maker from equal-weight to overweight.

Later in the day, the central banks of England, Switzerland and Norway will announce their monetary policy decisions.

Britain’s FTSE 100 rose 0.1%, while the Swiss benchmark fell 0.1%.

European stocks open higher as technology and banks shine

Among other stocks, French food group Danone said it is targeting annual sales growth of between 3% and 5% over the next four years. Shares fell 2.9% early.

Tate & Lyle fell 6.5% after the British food ingredients manufacturer announced it would buy US CP Kelco from JM Huber Corporation for $1.8 billion.

The shares also traded ex-dividend.

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