Europe: Stocks open higher after May wins vote

[LONDON] European stocks rose Thursday at the open on investor relief after British Prime Minister Theresa May won a no-confidence vote.

Investors were meanwhile awaiting the latest interest rate decision from the European Central Bank, which is forecast to end the "quantitative easing" stimulus.

Sentiment was also buoyed by more conciliatory noises from China and the United States on trade, dealers said.

At the opening bell, London's benchmark FTSE 100 index advanced 0.2 per cent to 6,894.93 points.

In the eurozone, Frankfurt's DAX 30 won 0.5 per cent to 10,978.68 points and the Paris CAC 40 climbed 0.4 per cent to 4,926.86.

The pound meanwhile rose to US$1.2656, compared with US$1.2629 late on Wednesday.

Prime Minister May survived a confidence vote staged by her own party's MPs late on Wednesday.

Mrs May won the backing of 200 Conservative lawmakers, but 117 voted to oust her - and only after she conceded she would step down before the 2022 election.

She heads to Brussels for the second time in three days on Thursday, battling to save her Brexit deal.

AFP