European markets advance, breaking from cautious global sentiment; Continental down 12%
- U.S. jobless claims data is set to be released Thursday, with economists polled by Dow Jones expecting a total of 320,000 Americans filed for unemployment insurance last week
- Investors in recent days have been reacting to softer U.S. inflation data, which tempered expectations of imminent tapering of asset purchases by the Federal Reserve, and weak retail sales figures from China, which suggested a slowdown in the global economic recovery
CNBC/LONDON — European stocks climbed on Thursday morning, bucking the trend seen in the U.S. and Asia as global investors kept an eye on economic data and central banks
| TICKER | COMPANY | NAME | PRICE | CHANGE | %CHANGE | VOLUME |
|---|---|---|---|---|---|---|
| FTSE | FTSE 100 | *FTSE | 7046.2 | 29.71 | 0.42 | 47670299 |
| GDAXI | DAX | *DAX | 15708.7 | 92.7 | 0.59 | 4948666 |
| FCHI | CAC 40 Index | CAC | 6624.91 | 41.29 | 0.63 | 7915434 |
The pan-European Stoxx 600 rose 0.6% in early trade, with travel and leisure stocks adding 1.8% to lead gains as all sectors entered positive territory except basic resources, which fell 0.7%
Markets in Europe received a weak handover from Asia-Pacific, where Hong Kong’s Hang Seng index led the declines among major indexes as casino shares plummeted amid regulatory worries
Stateside, stock futures were fractionally lower in early premarket trade on Thursday after a rebound on Wall Street as the market tried to avert the seasonally weak September
U.S. jobless claims data is set to be released on Thursday, with economists polled by Dow Jones expecting a total of 320,000 Americans filed for unemployment insurance in the week ended Sept. 11
Investors in recent days have been reacting to softer U.S. inflation data, which tempered expectations of imminent tapering of asset purchases by the Federal Reserve, and weak retail sales figures from China, which suggested a slowdown in the global economic recovery
In other news, U.K. Prime Minister Boris Johnson on Wednesday reshuffled his Cabinet, replacing a number of senior ministers and urging his government to tackle economic inequality in the aftermath of the pandemic
German Finance Minister Olaf Scholz will face questions from lawmakers next Monday over suspected failings at the federal anti-money laundering agency. The interrogation will take place days before the country’s elections in which Scholz is favorite to succeed Chancellor Angela Merkel with his Social Democratic Party leading in the polls
In terms of individual share price movement, British online trading company IG Group jumped 4.3% to lead the Stoxx 600 after its quarterly earnings report
At the bottom of the index, German car parts maker Continental plunged more than 12% after spinning off its powertrain unit Vitesco
