European stocks open higher, with BT Group slumping, Zalando soaring

European stocks opened higher on Thursday, with energy companies and the retail sector rising. The Stoxx Europe 600 index rose 0.7% to 336.60 and the German DAX index was up 0.4%. The FTSE 100 index rose 0.3%, while the pound gained after recent losses, after the Bank of England left key rates and its bond-buying program unchanged. U.S. stock futures rose as investors waited for weekly jobless claims data. Shares of BT Group tumbled 8% after the telecoms group said it would suspend its dividend until 2022 to fund a restructuring plan and deal with the pandemic. But those shares also fell as Liberty Global and Telefonica announced a merger of their U.K. operations in a 50-50 joint venture. Shares of Telefonica climbed 3%. Shares of Zalando SE jumped 11% after the online retailer's well-received results.

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