Europe open: Shares edge higher as investors eye US jobless data

European shares opened slightly higher on Thursday as investors eyed US jobless data later in the day for any sign of an economic recovery from the Covid-19 pandemic.

The benchmark Stoxx 600 index was up 0.37% in early trade, with most regional bourses following suit. US futures indicated a cautious start.

In equity news, shares in Anglo-Swedish drugs maker AstraZeneca rose 1.92% as the company posted a spike in final revenues, fuelled by strong demand for its oncology drugs, and predicted further strong growth for the current year.

The company, which last year developed a Covid-19 vaccine in conjunction with Oxford University, said total revenues rose 9% to $26.6bn in the year to December 31, 2020. Product sales rose 10% to $25.9bn.

Royal Mail shares rose 6.47% as the delivery firm said it expected full-year group adjusted profit to be “well in excess” of £500m after a strong rise in parcel revenues over Christmas period.

Coca-Cola Co shares rose 5.4% as the drinks giant forecast a return to organic revenue growth this year.

French electricals distributor Rexel soared as the company’s fourth quarter sales exceeded expectations.

Germany’s Commerzbank fell 2.9% as the lender said its loss deepened in the fourth quarter.