European shares open higher, ECB rate verdict on tap

(Reuters) – European shares opened higher on Thursday led by energy stocks, while investors also awaited the European Central Bank’s interest rate decision, due later in the day.

The continent-wide was 0.2% higher at 0711 GMT and was on track to snap a three-session losing streak. Oil and gas boosted the benchmark index with a 1% rise, as the sector tracked higher crude prices. [O/R]

The ECB’s interest rate decision is due at 1215 GMT, where the central bank is expected to keep interest rates unchanged while signalling that its next move is still set to be a cut, even if this guidance is likely to be vague and carry caveats. [0#ECBWATCH]

Among individual stocks, Publicis jumped 7.7%, as the French advertising group upgraded its organic growth guidance after beating expectations for the second quarter.

Essity jumped 5.7% after the Swedish hygiene products maker reported second-quarter core earnings above expectations.

ABB (ST:) lost 5.8% after the Swiss engineering group reported a slightly better-than-expected second-quarter profit, in the final set of numbers under departing Chief Executive Bjorn Rosengren.

Finnish telecom equipment maker Nokia (HE:) shed 8.8% after reporting a 32% decline in quarterly profit.