European markets gain after Richemont results

European stocks opened higher on Thursday after three consecutive sessions of losses, supported by strong financial results for Richemont, while investors awaited the release of the minutes of the European Central Bank’s monetary policy meeting later on Thursday.

According to Reuters, the European Stoxx 600 index rose 0.1% after falling to its lowest level in six weeks in the previous session.

The index received support from a rise in Richemont shares by 7.3% after third-quarter sales of the group that owns Cartier jewelry exceeded estimates thanks to a huge jump in sales in China.

Investors are awaiting the minutes of the European Central Bank’s December meeting for indications on the path the central bank will take with interest rates.

A series of recent statements by policymakers to reduce market expectations has led traders to reduce interest rate cut bets, as expectations currently favor the first interest rate cut in April instead of March.

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