European stocks recovered from earlier losses to close above the flatline on Thursday, erasing the slight pullback from last session as markets digested a batch of earnings results and assessed how trade barriers may jeopardize economic growth.
The Eurozone's STOXX 50 closed marginally higher at 5,410 and the pan-European STOXX 60 gained 0.5% to close at 546. Healthcare stocks rebounded as investors took advantage of lower valuations due to US President Trump's signals of caps on drug prices, lifting Bayer and Sanofi shares by 3% and 1%, respectively.
Utilities also advanced sharply with Iberdrola and Enel each gaining close to 2%. On the earnings front, Deutsche Telekom advanced 2.6% after raising its full-year guidance despite the uncertain macroeconomic backdrop.
On the other hand, Siemens and Allianz closed lower following their earnings releases.
Source : Trading Economics
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