European Stocks Climb as Technology Shares Soar Amid Key Central Bank Decisions

European shares rose on Thursday, driven by gains in technology stocks and focus on upcoming interest rate decisions by several central banks. The STOXX 600 increased by 0.3%, with technology and construction stocks rising by 0.7%. Key movements included ASMI climbing 4.1% after an upgrade and Tate & Lyle falling 6.5% after announcing an acquisition.

European shares opened higher on Thursday, boosted by rising technology shares, with the focus squarely on interest rate decisions by several central banks across the region later in the day.

The pan-European STOXX 600 gained 0.3% as of 0713 GMT. Technology stocks led gains, rising 0.7%, with construction and materials also rising 0.7%. Lifting the tech index was ASMI, which jumped 4.1% after Morgan Stanley upgraded the semiconductor equipment manufacturer to "overweight" from "equal-weight".

Later in the day, central banks in England, Switzerland and Norway are set to announce their monetary policy decisions. UK's FTSE 100 rose 0.1%, while Switzerland's benchmark edged 0.1% down. Among other stocks, French food group Danone said it is targeting annual sales growth between 3% and 5% over the next four years. Its shares slipped 2.9% early on.

Tate & Lyle fell 6.5% after the British food ingredients maker said it will buy U.S.-based CP Kelco for $1.8 billion from J.M. Huber Corporation. Its shares were also trading ex-dividend.

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