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European stocks open higher on rises in US, Asia markets, oil prices

by Paul

European stocks opened mildly higher Thursday, boosted by buoyant trade in Asia and the U.S. and a rise in oil prices.

The pan-European STOXX 600 was up 0.25 percent.

European stocks got a fillip from their Asian counterparts on Thursday as well as the bounce in U.S. stocks after a slew of economic data.

Asian markets were bolstered by a rise in oil prices which on Thursday remained near the June highs reached in the previous session. Traders said the price dips early on Thursday were largely a result of profit-taking following strong rises the day before, Reuters reported.

In other news, shares of South Korea’s Samsung Electronics jumped 3.77 percent after activist U.S. hedge fund Elliott Management published a letter calling on the South Korean firm’s board of directors to reshape the business, including splitting the company and increasing its dividend.

Asian and European markets are also getting a bounce from the U.S., where stocks closed higher on Wednesday due to the rise in oil prices and some positive data, with U.S. factory orders for August and services sector activity in September both coming in better-than-expected.

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