European Shares Rally Amid Energy Gains and ECB Anticipation

European shares opened higher on Thursday, driven by energy stocks, while investors awaited the European Central Bank's interest rate decision. The STOXX 600 index saw gains amidst rising crude prices. Publicis and Essity stocks soared after positive earnings reports, whereas ABB and Nokia saw significant declines post-earnings announcements.

European shares opened higher on Thursday, led by gains in energy stocks as investors eagerly awaited the European Central Bank's interest rate decision, scheduled for later in the day.

The STOXX 600 index climbed 0.2% at 0711 GMT, poised to break a three-session losing streak. The benchmark index was driven by a 1% rise in oil and gas stocks, which followed higher crude prices. The ECB's interest rate decision is anticipated at 1215 GMT, with the central bank expected to keep rates unchanged while hinting at potential future cuts, albeit with vague guidance and caveats.

Among noteworthy individual stocks, French advertising giant Publicis surged 7.7% after raising its organic growth forecast following strong second-quarter results. Swedish hygiene products maker Essity rose 5.7% after surpassing second-quarter earnings expectations.

In contrast, Swiss engineering company ABB fell 5.8% after reporting a slightly better-than-expected second-quarter profit, marking the final results under outgoing CEO Bjorn Rosengren. Finnish telecom equipment maker Nokia plummeted 8.8% following a 32% drop in quarterly profits.

(With inputs from agencies.)