Europe open: Stocks edge higher; German Ifo due

European stocks edged higher in early trade, taking their cue from an upbeat session in the US, where the Dow and the S&P 500 hit record highs again, but volumes were expected to be lighter than usual as traders across the pond take a break for Thanksgiving.

At 0850 GMT, the benchmark Stoxx Europe 600 index was up 0.2%, while Germany’s DAX and France’s CAC 40 were up 0.4% and 0.3%, respectively.

Meanwhile, oil prices were little changed as investors continued to look to next week’s OPEC meeting in the hope that a production cut will be agreed. West Texas Intermediate and Brent crude were down 0.2% to $47.87 a barrel and $48.84, respectively.

In corporate news, Remy Cointreau was on the front foot after reporting a jump in profit for the six months to the end of September.

Legal & General pushed up after announcing the sale of its Netherlands business to London-listed pensions firm Chesnara for €160m.

Rio Tinto nudged up after chief executive Jean-Sébastien Jacques said the mining giant can boost cash flow by $5m over the next five years by a new "productivity drive".

Insurer Direct Line was a high riser after Morgan Stanley upped the stock to ‘overweight’ from ‘equalweight’.

Shares in Domino’s Pizza were looking tasty after it increased its long-term target for expanding its UK store presence and reiterated its guidance for 2016 pre-tax profit.

On the downside, Thyssenkrupp fell after it posted a 4% drop in full-year profit amid a challenging steel market.

Countrywide tumbled as it issued its second profit warning this year, saying core earnings for 2016 would take a hit as a result of the UK’s vote to leave the European Union. The stock had already fallen sharply on Wednesday after Chancellor Philip Hammond unveiled a clampdown on estate agent lettings fees.

On the macroeconomic front, the German Ifo survey for November is due at 0900 GMT.