LONDON (Reuters) - European shares closed a touch higher in thin trade on Thursday, lifted by expectations for economic stimulus in China, although uncertainty about Spain’s fiscal reforms kept gains in check.
Mining stocks .SXPP rose 1.2 percent after China’s central bank injected cash into its money markets and traders speculated it may also take steps to boost the country’s weak stock market, to arrest a slowdown in its economic growth.
Trading was choppy, however, as the Spanish government repeatedly postponed a press conference aimed at unveiling its economic reforms. It eventually started shortly before the market close.
“We’re not going to find out the details of what (the Spanish government) says until three or four days when the big budget document comes out and we find out where all the different bits are hidden,” Oliver Wallin, investment director at Octopus Investments, said.
Wallin said he was holding off from buying and “waiting to see, because we’re not really being invited (by the broader macroeconomic environment) to put more risk on the table at the moment.”
Reporting By Francesco Canepa; editing by Simon Jessop