Europe open: Stocks egde higher; Vestas Wind surges on results

European stocks edged higher in early trade following losses in the previous session, as investors digested the latest Federal Reserve meeting minutes, which showed policymakers were in no hurry to hike interest rates.

At 0855 BST, the benchmark Stoxx Europe 600 index, Germany’s DAX and France’s CAC 40 were all up 0.4%.

At the same time, oil prices were firmer. West Texas Intermediate was up 0.7% at $47.10 and Brent crude was 0.2% higher at $49.96.

The minutes from the Fed’s 26-27 policy meeting released on Wednesday showed a continued reluctance to jump to any conclusions about the state of the economy.

Policymakers were divided on the pace of rate hikes needed, meaning a September move is unlikely.

The minutes stated that, regarding the near-term outlook, members of the Federal Open Markets Committee "generally agreed that the prompt recovery in financial markets following the Brexit vote and the pickup in job gains in June had alleviated two key uncertainties about the outlook that they had faced at the time of the June meeting”.

Lee Wild, Head of equity strategy at stockbroker Interactive Investor, said: America's economy is growing but hardly shooting the lights out. It's why Federal Reserve chiefs remain split on raising interest rates any time soon, according to minutes from the policymaker's latest meeting released overnight. That means less likelihood of a US rate hike in September, which underpins equity markets still trading only a short stroll from record highs.”

In corporate news, Vestas Wind Systems surged after its second-quarter numbers beat expectations and the company lifted its full-year forecasts.

Nestle nudged just a touch higher after reporting a drop in first-half profit.

Fresnillo gained ground as it said the milling plant at its San Julián milling facility has successfully begun processing ore and operations at the leaching plant were confirmed as having run "normally" for a week.

B&Q owner Kingfisher was broadly flat as it said sales slowed only slightly in the second quarter.

On the data front, eurozone inflation figures are at 1000 BST. In the US, initial jobless claims and the Philadelphia Fed survey are at 1330 BST, while leading indicators are at 1500 BST.