European stocks opened slightly higher on Thursday, as traders reviewed another batch of earnings reports, and as U.S. market declines weighed on global sentiment.
The pan-European Stoxx 600 was up 0.62% by 9:30 a.m. London time, with the majority of major bourses and sectors trading in positive territory. Travel and leisure stocks added 2.21% while retail shares were the sole outlier, dipping 0.2%.
Shares of Renault jumped by 7% after the French carmaker reported an unexpected uptick in third-quarter revenue amid strong demand for its pricier models.
French fashion house Hermes gained 2.3%, before paring gain slightly, after the company reported a significant increase in third quarter sales, as demand for its Birkin bags continued to outweigh a wider downturn in luxury sales. Shares were last seen up 1.8%.
Meanwhile, Barclays shares also rose 2.85% after the British bank reported better-than-expected third-quarter results.
The return to positive sentiment comes after U.S. markets declined on Wednesday. The Dow ended the session with its biggest one-day loss since early September, dropping more than 400 points, or 0.96%. The S&P 500 slipped 0.92%, while the Nasdaq Composite fell 1.6%. It was the third straight losing day for the Dow and the S&P 500.
The declines prompted Asia-Pacific markets to mostly fall overnight. U.S. stock futures linked to the S&P 500 traded near the flatline.
— CNBC’s Lisa Kailai Han contributed to this market summary