European markets move higher; Renault shares up 5.7% after quarterly revenue jump

This is CNBC's live blog covering European markets.

European stocks were higher on Thursday, as investors reviewed another batch of earnings reports and shook of U.S. market declines.

The pan-European Stoxx 600 was up 0.52% by 2:05 p.m. London time, with the majority of major bourses and sectors trading in positive territory. Travel and leisure stocks added 2.196% while retail dipped 0.05%.

Shares of Renault jumped more than 7% after the French carmaker reported an unexpected uptick in third-quarter revenue amid strong demand for its pricier models. The stock was last seen up 5.7%.

Barclays shares also rose 4% after the British bank reported better-than-expected third-quarter results.

Meanwhile, Hermes added 2.3%, before paring gains slightly, after the French fashion house reported an increase in third quarter sales, as demand for its Birkin bags continue to outweigh a wider downturn in luxury sales. Shares were last seen up 1.9%.

The return to positive sentiment comes after U.S. markets declined on Wednesday. The Dow ended the session with its biggest one-day loss since early September, dropping more than 400 points, or 0.96%. The S&P 500 slipped 0.92%, while the Nasdaq Composite fell 1.6%. It was the third straight losing day for the Dow and the S&P 500.

The declines prompted Asia-Pacific markets to mostly fall overnight. U.S. stock futures linked to the S&P 500 traded near the flatline.

— CNBC's Lisa Kailai Han contributed to this market summary

Shortly after market open, the S&P 500 and Nasdaq Composite were up 0.3% and 0.6%, respectively. The Dow Jones Industrial Average lost about 106 points, or more than 0.2%, meanwhile.

— Pia Singh

Shares of asset management firm Abrdn fell 9% after its third-quarter results showed