European stocks added cautious gains Thursday amid low volumes owing to the U.S. Thanksgiving holidays, but rising oil prices and continue currency market volatility kept investors focused into the final days of the trading month.
The Stoxx 50 index of European bluechip shares rose 0.2% by mid-day in London, while benchmarks in France, Germany and Italy added modest gains.
Britain's FTSE 100, however, dropped 10 points by 12:20 GMT, with utilities and telecom stocks falling to the bottom of the benchmark as certain shares, including Vodafone Group (VOD) and BT Group (BT) , traded ex-dividend. Germany's DAX performance index was little changed from the open, thanks to gains for index heavyweights Bayer AG (BAYRY) (+0.3%) and BASF (BASFY) (+0.55%). In France, the CAC-40 advanced 0.1%
In Paris, Remy Cointreau SA (REMYY) shares rose 1% after the luxury spirits maker said operating profits in the first half of its fiscal year rose 7% on a like-for-like basis to €123.9 million and maintained its earnings guidance for the full year. The maker of Cointreau and Remy Martin cognac expects like-for-like operating profit growth of around 8% and said China and U.S. sales were growing better than expected.
In Germany, Thyssenkrupp AG (TKAMY) shares rose to a one-month high Thursday after it said cost-cutting and a U.S. infrastructure spending boom would boost earnings.
The Essen, Germany-based steelmarker, Germany's largest, said adjusted EBIT fell to €1.47 billion ($1.55 billion) over the 12 months to the end of September, down 12% on the previous year figure of €1.7 billion, while net income was €261 million, down from €268 million.