European shares edge higher

European shares edged higher on Thursday, lifted by H&M after the Swedish retailer posted a stronger-than-expected profit, although hawkish remarks from a slew of top central bankers kept a lid on risk sentiment.

The pan-European STOXX 600 index was up 0.1% by 0704 GMT, a day after top central bankers, including U.S. Federal Reserve Chairman Jerome Powell, signalled further policy tightening was required to tame inflation.

Shares of H&M climbed 7.3% to an over one-year high after the world’s second-biggest fashion retailer topped expectations for quarterly operating profit and said its third-quarter sales were also off to a good start.

JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.

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