2017.02.2007:21:00UTC+00European Shares Higher, Buoyed by Telecom Stocks

European stocks were trading slightly higher, lifted by stronger telecom stocks, as investors kept an eye on the meeting of eurozone finance ministers who are set to discuss Greece's bailout. The pan-European STOXX 600 index climbed 0.3 percent, while UK's FTSE 100 index gained 0.1 percent.

Telecom stocks were up 1.3 percent, led higher by a 3.3 percent jump in Deutsche Telekom, after a report from Reuters stated that SoftBank is prepared to give up control of Sprint to Deutsche Telekom's T-Mobile US to secure a merger of the two companies. Shares of Unilever dropped almost nine percent at one point, which makes it the largest decliner on the STOXX, after Kraft Heinz Co pulled out on a proposal for a merger with its biggest rival.

Royal Bank of Scotland Group PLC jumped six percent after news that the bank might not sell its Williams & Glyn business. Shares of Rolls-Royce Holdings PLC climbed four percent after Goldman Sachs analysts improved their rating for the company to buy. Steinhoff International Holdings advanced seven percent after it ended deal talks with Shoprite Holdings Ltd.

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