Europe open: Stocks extend bounce, with sentiment boosted by more dovish central banks
Stocks have started the session moving higher, with traders citing the more dovish policy stance of US central bankers and a slight ebbing in trade tensions for the move.
"Trade tensions were dialled down a little yesterday when the Chinese Ministry of Commerce said the standoff will need to be resolved through additional talks," said David Madden at CMC Markets UK.
"Beijing has matched the US's tough stance, but at least they are acknowledging that dialogue is the best way forward. Both sides know full well that a series of higher levies will be bad for everyone, and that feeling has dripped into the markets."
As of 0900 BST, the benchmark Stoxx 600 was up by 0.53% to 375.63, while the Dax was adding 0.66% to 12,050.98 and the FTSE Mibtel was edging up by 0.09% to 2,024.17.
Euro area services put in a better-than-expected showing in April, with IHS Markit's PMI for the space printing at 52.9 for May (Preliminary: 52.5) versus 52.8 in April.
In Spain, services sector activity slipped to its slowest since late-2013, although conditions in Italy were again the toughest.
French and German services PMIs on the other hand recorded faster growth, but overall the survey data was pointing to GDP growth of only 0.2% quarter-on-quarter.
And as Chris Williamson at IHS Markit pointed out: "The survey also brought further signs that companies are having to increasingly compete on price to sustain sales growth, dampening inflationary pressures to the lowest for two-and-ahalf years."
Still ahead for later in the day, euro area retail sales and produce price data for April are both scheduled for release at 1000 BST.
Stateside meanwhile, the ISM institute's factory sector Purchasing Managers' Index was scheduled for release at 1500 BST and the US Federal Reserve vice chairman Richard Clarida was due to deliver a speech at 1445 BST.
Shares of Fiat were higher amid reports that Renault's board, given resistance from joint-venture partner Nissan, had postponed its decision on the proposed tie-up.
In Spain meanwhile, Cellnex inked an agreement to purchase the marketing and operating rights for 220 BT high towers in Britain for the next 20 years.