European Markets Climbed After Fed Minutes Showed Division

(RTTNews) - The European markets ended Thursday's session in positive territory. Investors had their first opportunity to react to the minutes from the most recent Federal Reserve meeting, which was released after the close yesterday. The minutes showed that Federal Reserve officials are divided over when to begin raising interest rates.

Several participants determined that the economic data and outlook were likely to warrant beginning the process of raising rates in June.

However, others said conditions would not be appropriate to begin raising rates until later in the year due to the effects lower energy prices and the dollar's appreciation have on inflation.

The Fed noted that a couple of participants suggested that the economic outlook likely would not call for liftoff until 2016.

Investors continue to watch for developments in Greece. Greece is due to make a 459 million euro loan payment to the IMF later in the day. Most analysts think it'll be made. On top of that payment, Greece is also due to pay 194 million euros to private bondholders on April 17, followed by a further 80 million euros payment to the European Central Bank on April 20.

Meanwhile, Greek Prime Minister Alexis Tsipras did not ask for financial aid from Russia during talks in Moscow, Russia's President Vladimir Putin has said. Talks were focused on a possible Russian investment in energy and other projects.

The Bank of England kept its key rate unchanged at a historic low, as widely expected, amid fears that the threat of deflation looms ahead of the general election in May.

The nine-member Monetary Policy Committee, led by Governor Mark Carney, decided to retain the key bank rate at 0.50 percent. The rate has been at the current 0.50 percent since March 2009.

The size of the quantitative easing program was also maintained at GBP 375 billion. The quantitative easing was first introduced at the March 2009 meeting.

The Bank of France raised its first quarter growth estimate for the French economy back to 0.4 percent on Thursday, citing growth in industrial production and stronger foreign demand.

In March, the bank had lowered the forecast to 0.3 percent from 0.4 percent. In the fourth quarter, the French economy grew 0.1 percent from the previous three months.

The Euro Stoxx 50 index of eurozone bluechip stocks increased by 0.93 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 1.10 percent.

The DAX of Germany climbed by 1.08 percent and the CAC 40 of France rose by 1.40 percent. The FTSE of the U.K. gained 1.12 percent and the SMI of Switzerland finished higher by 1.57 percent.

In Frankfurt, BMW increased by 2.52 percent and Volkswagen added 1.94 percent. Daimler also finished higher by 1.42 percent.

In Paris, Lafarge climbed by 5.72 percent after the cement giant and Swiss peer Holcim approved the appointment of Eric Olsen as the future CEO Of LafargeHolcim. Holcim added 3.63 percent in Zurich.

Renault advanced by 2.59 percent and Peugeot gained 2.70 percent.

In London, Burberry climbed by 2.81 percent on a positive broker recommendation.

U.K. Oil and Gas Investments soared by 166.97 percent, after the company made a significant onshore oil discovery in Southern England.

BHP Billiton fell by 1.09 percent. Credit Suisse downgraded its rating on the stock to "Underperform" from "Neutral."

Germany's exports and industrial production recovered at a faster-than-expected pace in February, boosting hopes of strong recovery in the growth engine of Eurozone during the first quarter, despite the weakness in new orders.

Driven by capital goods output, industrial production rose a seasonally and working-day adjusted 0.2 percent in February from the prior month, the Economy Ministry reported Thursday. It was faster than economists' expectations for a 0.1 percent rise.

A report from Destatis showed that exports grew 1.5 percent in February from January, when it declined 2.1 percent. Economists had forecast a growth of 1 percent.

Similarly, imports advanced 1.8 percent, reversing January's 0.2 percent fall. The monthly growth was faster than a 1.2 percent rise forecast by economists.

U.K. trade deficit in goods widened more-than-expected in February to its highest level in seven months, data from the Office for National Statistics showed Thursday. The visible trade deficit increased to GBP 10.340 billion from GBP 9.174 billion in January. Economists had forecast a shortfall of GBP 9 billion.

U.K. house prices increased more than expected in March after falling a month ago, survey data from Lloyds Banking Group's Halifax division showed Thursday. House prices rose 0.4 percent month-on-month in March, offsetting a 0.4 percent fall in February. Economists had forecast a marginal 0.1 percent growth.

Following last Friday's disappointing jobs data for the month of March, the Labor Department released a report on Thursday showing a rebound in first-time claims for U.S. unemployment benefits in the week ended April 4th.

The report said initial jobless claims climbed to 281,000, an increase of 14,000 from the previous week's revised level of 267,000. Economists had expected jobless claims to rise to 285,000 from the 268,000 originally reported for the previous week.

While the Commerce Department released a report on Thursday showing that U.S. wholesale inventories rose by slightly more than expected in the month of February, the report also showed a continued decrease in wholesale sales.

The report showed that wholesale inventories rose by 0.3 percent in February after climbing by an upwardly revised 0.4 percent in January. Economists had expected wholesale inventories to edge up by 0.2 percent compared to the 0.3 percent increase originally reported for the previous month.