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. The pan-European STOXX 600 was up 0.1 percent, in line with euro zone stocks and blue-chips, with rate-sensitive real estate stocks, which were top gainers on Wednesday, pulling back slightly. On Wednesday, the European benchmark posted its best day since Macron's victory in the first round of presidential elections, as banks and yield plays rallied. Defence and engineering services firm Babcock led European gainers, up 3.6 percent after a positive trading update, leaving its full-year outlook unchanged. Drugmaker Astrazeneca meanwhile was the worst European performer after a report Chief Executive Pascal Soriot was to be named CEO of Israel-based Teva Pharmaceutical Industries.

Source: dna July 13, 2017 07:30 UTC