European shares inched higher on Thursday, with investors less keen to chase the previous session's strong rally that came on the back of the relatively dovish tone struck by Fed chair Janet Yellen overnight. On Wednesday, the European benchmark posted its best day since Emmanuel Macron's victory in the first round of French presidential elections, as banks and yield plays rallied. Cyclicals were back to the fore on Thursday with banks, which gain from higher rates, up 0.9 percent. "The beat is likely helped by good weather annualizing against a period of poor weather and strikes," said Bernstein retail analyst Bruno Monteyne. Drugmaker AstraZeneca was among the worst European performers after a report that Chief Executive Pascal Soriot was to be named CEO of Israel-based Teva Pharmaceutical Industries .

Source: dna July 13, 2017 16:07 UTC