After briefly pausing in the previous session, the European markets are moving higher in mid-morning deals Thursday, amid another batch of encouraging corporate earning numbers and economic data.
Cues from the U.S. are also encouraging with the Dow futures pointing to a higher open. Yesterday, the U.S. Federal Reserve said in its assessment into the U.S. economy that "activity has continued to increase, on balance, since the previous survey." Traders will look to the weekly jobless claims numbers due out later today and Friday's first estimate of second quarter GDP, to get clues on the strength in the recovery of the economy.
Meanwhile, most Asian markets ended higher. While the Chinese market advanced for a second session, the Japanese market pared Wednesday's gains.
The price of crude oil is edging up even after official data from the EIA yesterday revealed a surprise 7.3 million barrels build in U.S. crude inventories in the week ended July 23. Crude for September delivery gaining $0.29 to $77.28 a barrel.
Elsewhere, the price of gold is gaining for a second session, with gold for August delivery adding $4.60 to $1,165.00 an ounce. Earlier on Tuesday, the contract tumbled $25 amid increasing risk appetite.
In economic news, German Federal Statistical Office said that the number of persons in employment living in the nation increased by 131,000 or 0.3% to 40.3 million in June from a year ago. The seasonally adjusted unemployment rate decreased to 7% in June from 7.7% recorded in the year ago period.
The French producer price index remained unchanged in June compared to the previous month, the statistical office INSEE said . Economists were looking for an increase of 0.3%.
Elsewhere, Swedish consumer confidence improved more than expected in July, the National Institute of Economic Research said . The corresponding index rose to 23.3 from 22 in June. Economists were looking for a reading of 22.1.
The European Commission said that the euro zone's economic sentiment indicator rose to 101.3 in July from 99.0 in June, beating analysts' forecast for a score of 99.1. Meanwhile, an index measuring confidence in the manufacturing sector rose slightly to -4 from -6, missing expectations for a reading of -5. The commission also said the business climate indicator for the euro area increased to 0.66 from 0.40. Economists were looking for a score of 0.39.
Communications solutions provider BT Group plc (BT, BT_A.L) is up 2.93% after reporting first-quarter profit before tax of GBP 375 million, up 38% from GBP 272 million.
Europe's largest oil company Royal Dutch Shell Plc is gaining 1.18%. The company's second quarter net income rose to $4.39 billion from $3.82 billion a year earlier.
Electronics and electrical engineering company Siemens AG's (SI) third-quarter profit increased nearly 12% to EUR 1.411 billion or EUR 1.60 per share from EUR 1.260 billion or EUR 1.44 per share in the prior year. The stock is giving in 0.32%.
France Telecom (FTE) reported second-quarter consolidated revenues of 22.14 billion euros for the first half of 2010, down 2.2% on a comparable basis and in line with consensus estimates. The stock is gaining 5.80%
Europe's second-biggest airline Deutsche Lufthansa AG said it operating profits tripled to 159 million euros or $207 million, compared with 52 million euros a year earlier. Analysts were expecting the company to report earnings of 131 million euros. The stock is shedding 3.50%.
The FTSE 100 is currently gaining 0.78%, the DAX is adding 0.60% and the CAC 40 is up 0.51%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.