Europe open: Stocks gain ahead of OPEC decision

European stockmarkets started the day higher, tracking overnight gains on Wall Street ahead of a decision later in the day from OPEC on whether to extend its output cut deal from last November.

As of 0826 BST the Stoxx 600 was up by 0.09% to 392.72, alongside gains of 0.13% for Germany's Dax to 12,660.91 and an advance of 0.35% in the Cac-40 to 5,360.18.

Overnight, the S&P 500 closed just a fraction below its record highs after what some traders and analysts - but certainly not all - appeared to interpret as a 'dovish' set of US central bank policy meeting minutes.

"While most members viewed the slowdown as transitory there was broad agreement that it would be prudent to wait for further data to establish that fact before hiking again, though they did express the view that is what they expected would happen.

"Only then would it be considered appropriate to raise rates again, which rather begs the question as to whether the market is correct in thinking that June is more or less a done deal for a rate rise," said Michael Hewson, chief market analyst at CMC Markets UK.

OPEC energy ministers meeting in Vienna on Thursday were widely expected to agree to a six-month extension of their output cut agreement, but some countries were pushing for it to be prolonged for between another nine or 12 months.

In economic news, Spanish GDP grew at a 0.8% quarter-on-quarter pace during the first three months of 2017, as expected.

Still on the economic calendar for Thursday, UK GDP data was set for release at 0930 BST followed by a reading on business confidence in Belgium at 1200 BST.

European Central Bank vice president Vitor Constancio was expected to deliver a speech at 1800 BST.

Stateside, data on weekly jobless claims, trade in goods and wholesale inventories were all scheduled for release at 1330 BST.

Shares in online fashion retailer Zalando were little changed even after the company said that Global Founders GmbH had reduced its stake by 3.78%.

Private equity outfits Advent and Permira were not studying a joint counter-offer for Germany's Stada alongside Shanghai Pharmaceuticals, Reuters reported.