Europe stocks open slightly higher as the Trump rally continues

European stock markets commenced trade slightly higher on Thursday as they continue to rebound following Donald Trump’s victory in the U.S. election.

The pan-European Stoxx 600 was 0.6 percent points higher with all sectors moving up.

Basic resources was outperforming its peers, climbing more than 2 percent.

Insurance stocks were also perming well on Thursday morning, increasing more than 1.5 percent, on positive earnings news.

Several world leaders have announced plans to meet with Donald Trump. With Prime Minister Shinzo Abe of Japan saying he will meet the president-elect next week in New York. Meanwhile, several anti-Trump protests have taken place across the U.S.

This comes after an impressive rally for global risk assets Wednesday after the result of the presidential elections. U.S. stocks surged more than 1 percent with financials and health care leading.

Siemens, Zurich, earnings

Siemens reported Thursday a net income in the three months to September of 1.15 billion euros ($1.25 billion) – a jump of 20 percent on the year. Its shares started Thursday’s trading jumping more than 2.5 percent.

Zurich Insurance posted a net profit of $912 million in the third quarter, well above the expected $722 million forecast by a Reuters poll. Zurich’s shares were 1 percent higher.

Oil prices were up on Thursday. Brent was trading at $46.66 a barrel, 0.6 percent higher, and WTI was selling at $45.37, rising 0.2 percent. Goldman Sachs said that Trump’s victory is supportive for the natural gas and oil industries due to his pledges to roll back emissions-reduction targets.

On the data front, several European countries will also release their inflation figures.

In the U.K., the RICS Residential Market Survey showed that house prices increased in the last three months to +23 in October from +18 in September. The continued rising prices will continue to be supported by supply shortages.

Source: CNBC