RTTNews.com – European stocks are trading broadly higher in mid-day trading on Thursday. Despite early losses in some markets, positive Wall Street cues have helped subsequent to the release of FOMC minutes. The oil companies were in red as the investors await a production decision from the Organization of the Petroleum Exporting Countries. The pan-European Stoxx Europe 600 index was up 0.0.04 percent. The U.K.’s FTSE 100 was moving up 0.11 percent to 7,523.24. The German DAX was up 0.13 percent to 12,659.67, after moving down in the early trading. France’s CAC 40 index was moving up 0.305 percent to 5,357.37, after treading in the negative side earlier. OPEC’s announcement related to production is expected after 11 a.m Eastern Time. Meanwhile, Saudi Arabia’s oil minister reportedly ruled out deeper cuts to oil production. In the oil companies, Anglo American was down 1.34 percent, Italy’sEni SpA was down 0.74 percent, BP Plc was down 0.68 percent and Total SA was down 0.05 percent. In other sectors, travel giant TUI AG lost 1.4 percent and HIKMA Pharma was down 1.14 percent. Shares of Petrofac Ltd. (POFCF.PK, POFCY.PK, PFC.L) plunged around 20 percent in London after the oil services company suspended Marwan Chedid as Group Chief Operating Officer until further notice. The company said it will cooperate with the SFO Investigation, and formed a Committee to be solely responsible for its engagement with the SFO and to oversee the company’s response to their investigation. Daily Mail and General Trust plc’s shares were down around 9 percent after it reported a sharp decline in first-half statutory profit before tax and updated underlying revenue growth forecast for dmg information segment. Meanwhile, 3i Group plc stock was up 2.32 percent, Unilever plc was up 1.72 percent, Burberry Group plc gained 1.14 percent and easyJet plc gained 1.12 percent.
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