Europe: Stocks edge higher in cautious trading

[BENGALURU] European stocks edged higher on Thursday supported by oil and chemical companies, while doubts over monetary policy outlook and signs of slowing global growth limited gains across the board.

The pan-European Stoxx 600 index was up 0.1 per cent by 7.13am GMT after Asian shares slid as concerns grew over the Chinese economy after a run of soft data.

Investors refrained from making big bets ahead of the US jobs data on Friday that could influence the Federal Reserve's thinking over policy tightening.

The European Central Bank is set to meet next week, with some of the hawkish members recently calling out the bank to pare back its pandemic-era bond purchases.

Among individual stocks, Swedish Orphan Biovitrum soared 24.2 per cent after US venture capital firm Advent International and Aurora Investment offered to buy the drugmaker in a deal valued about 69.4 billion Swedish crowns (S$10.85 billion).

Miner BHP Group fell 5 per cent on ex-dividend trading, weighing on the UK's blue-chip FTSE 100.

British engineering firm Melrose Industries gained 4.6 per cent as it reported a first-half profit.

REUTERS