European stocks closed higher on fresh trade talks between China and the US

  • The focus on the lira remains unchanged. The currency rose slightly against the dollar on Thursday, after rallying Wednesday on the back of financial support from Qatar.
  • Planned talks between the U.S. and China boosted stock sentiment.
  • After a freeway bridge collapse, Atlantia, who owns the Italian road-management company Autostrade, fell 23.5 percent.

Bourses in Europe climbed higher Thursday following news that China accepted an invitation from the United States to talk trade in late August.

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IBEX 35
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The pan-European Stoxx 600 closed provisionally up 0.53 percent with the majority of the sectors in positive territory. The positive news out of China pushed basic resources to trade over 1 percent higher.

The FTSE 100 in London, which is heavily influenced by mining stocks, ended the day 0.87 percent higher.

Looking at individual stocks, JC Decaux rose 7.07 percent. This was after a ratings upgrade by Berenberg bank, which said that the possible entry of Google in the outdoor ad market in Europe could support the company.

Atlantia, who owns the Italian road-management company Autostrade, fell 23.5 percent on Thursday. This was after the Italian government decided to revoke the company's concession in the aftermath of a bridge collapse in Genoa.

Corporate earnings also boosted sentiment across the continent. Carlsberg jumped 3.46 percent after lifting its full-year guidance, given strong beer sales across all its biggest markets. Shares of Bayer struggled, down by 4.83 percent, after a ratings downgrade.

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Nonetheless, market sentiment was also dented by ongoing concerns over Turkey, a stronger dollar and a slowing Chinese economy. In particular, the focus on the lira remains unchanged. The currency rose slightly against the dollar on Thursday, after rallying Wednesday on the back of financial support from Qatar. The country promised to invest $15 billion in Turkey, amid the ongoing spat between Ankara and the U.S. Washington said Wednesday that its steel and aluminum tariffs on Turkey will remain in place even if President Recep Tayyip Erdogan frees U.S. pastor Andrew Brunson.

Retail sales figures in the U.K. grew faster-than-expected in July, supported by the hot weather and the World Cup. Retail sales volumes jumped 0.7 percent from the previous month.