Europe close: Stocks continue to grind higher
European stocks were mostly higher again on Thursday as strong corporate news from insurers offset a fall in stocks going ex-dividend.
Worth noting, in the background the debate around whether so-called 'booster' shots against Covid-19 because of the Delta variant remained alive and well.
Late in the afternoon, a new study from the Mayo Clinic was published that appeared to show that Moderna's Covid-19 jab retained a higher efficacy against infection with the Delta variant than Pfizer's.
The pan-European Stoxx 600 index was up 0.11% at 474.84, with most regional bourses higher. The UK's FTSE 100 was down as heavyweight stocks went ex-dividend, dragging on sentiment.
Germany's Dax put on 0.70% to 15,937.51, although Spain's Ibex was but 0.04% in the green at 8,979.4.
Investors were also digesting UK data released earlier by the Office for National Statistics showing the economy grew by 4.8% between April and June as lockdown restrictions eased, in line with expectations.
This was close to the 5% growth predicted by the Bank of England last week and left the economy 4.4% below its pre-pandemic peak.
In equity news, shares in Deliveroo topped the Stoxx 600 leaderboard, rising 6% after the boss of Delivery Hero said the German takeaway food delivery company has no interest in buying its London-listed rival. Delivery Hero shares fell 7% in response.
Dutch insurer Aegon was second on the leaderboard with a rise of 7% on posting a much better than expected second-quarter earnings.
UK peer Aviva rose 3.47% after the company said it would return at least £4bn to shareholders. Zurich Insurance Group gained after reporting a 60% jump in first-half business operating profit.
Holiday company TUI's shares were up as it revealed a sharp jump in summer holiday bookings.
Shares in Cineworld rose 4% after it said it was considering a listing of itself or a partial listing of its movie chain Regal on Wall Street and reported an encouraging start to post-Covid-lockdown trading.
Stock Spirits Group jumped 44% as funds affiliated with private-equity firm CVC agreed to take over the London-listed vodka maker in a deal valuing it at £767m.
Rio Tinto, Barclays, and Shell were all lower as they traded without entitlement to the dividend. Rio was particularly weak as it went ex-interim and special dividend.