Springer, Daily Mail prod European stocks higher

  • Reuters
  • Stock Market News
Springer, Daily Mail prod European stocks higher
Credit: © Reuters.

May 30 (Reuters) - Jumps for two of Europe's biggest newspaper publishers helped European stocks gain early on Thursday, recovering from a more than 3-month closing low a day earlier as trade concerns continued to weigh on stock markets.

Germany's Axel Springer SE SPRGn.DE shares jumped to the top of the pan-European STOXX 600 .STOXX after it said it was in talks with private equity firm KKR about a potential investment in the company. Daily Mail DMGOa.L also gained 10% after it reported a better-than-expected 19% rise in first-half adjusted pretax profit and reaffirmed its forecasts for the full year. 0712 GMT, the STOXX 600 was up 0.3%, its first gain for three days.

Italy's FTMIB .FTMIB , which has been battered this week on concerns over the country's budget dispute with the European Union, led gains among country indexes with Britain's blue-chip FTSE 100 .FTSE underperforming due to a slight strengthening in the pound.

The European media sector .SXMT gained 1%.

Markets in Switzerland, Denmark, Sweden, Austria among others were shut on account of Ascension day.

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