European stocks may edge higher on Thursday, extending yesterday's strong gains, after Greece moved a step closer to securing international aid. Greece's parliament approved an austerity bill yesterday and a second vote to authorize implementation of the measures will be held later today.
Most Asian stocks are climbing for a third day, commodities are firm and the Dow futures are rising 21 points after Greece approved austerity measures needed to secure financial aid and avert a default next month.
Brent crude futures are up 22 cents at $112.62 a barrel after the EIA report for crude inventories showed a bigger than expected drop in stockpiles.
On the economic front, results of a key survey showed that confidence among British consumers declined more than expected in June after the "feel-good factor" of the extra bank holidays and Royal Wedding that sparked the sharpest jump in sentiment in 18 years in May diminished. Research firm GfK NOP's consumer confidence index slipped to minus 25 in June from minus 21 in May. Economists were looking for a reading of minus 24.
The euro is trading at a two-week high versus the dollar before data today forecast to show European consumer prices climbed in June.
In corporate news, American Airlines is in talks with Airbus, a unit of European Aeronautic Defence and Space Co. and Boeing Co. to purchase at least 250 aircraft in a deal valued at about $15 billion, the Wall Street Journal reported, citing people familiar with the matter.
The London Stock Exchange abandoned plans for a $3.4-billion tie-up with TMX Group, operator of the Toronto Stock Exchange, after it became clear that they would not win the two-thirds threshold required to approve the merger.
Genentech, a unit of Swiss drugmaker Roche Holding AG, said that it was disappointed with the U.S. Food and Drug Administration advisory panel's decision to halt the use of the cancer drug Avastin (bevacizumab) in combination with paclitaxel chemotherapy for treating breast cancer.
The major European averages such as the Euro Stoxx 50, the Stoxx Europe 50 index, Germany's DAX, France's CAC 40 and the U.K.'s FTSE 100 rose by 1.5-1.9 percent on Wednesday after lawmakers in Greece voted for painful austerity measures. The budget reforms are expected to save the country from facing a potentially disastrous default on its financial obligations.
U.S. stocks rose for the third straight day overnight, with banks leading the gains amid some window-dressing ahead of the quarter's end, after the Greek parliament voted 155 to 138 in favor of the 28 billion euro package of spending cuts and tax increases and data showed pending home sales across the U.S. rebounded in May. The Dow rose 0.6 percent, the Nasdaq gained 0.4 percent and the S&P 500 moved up 0.8 percent.
For comments and feedback contact: editorial@rttnews.com
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.