Investing.com – European stocks traded mostly higher Thursday, hitting the best level since July, as positive U.S. economic data continues to fuel the worldwide equity rally.
At the close of European trade, the EURO STOXX 50 gained 0.74%, France's CAC 40 added 0.44%, while Germany’s DAX advanced 0.92%. Meanwhile, in the U.K. the FTSE 100 traded down by 0.08%.
Sparking the equity rally, the U.S. Department of Labor said number of people who filed for unemployment assistance in the U.S. last week dropped to a four-year low of 351,000, beating expectations for a decline to 356,000.
Offering more equity positive news, separate reports showed that manufacturing activity in the Philadelphia region expanded at a faster than forecast rate in March, rising to the highest level in 11 months, while manufacturing activity in New York improved unexpectedly, climbing to the highest level since June 2010.
Elsewhere, official data showed that U.S. producer price inflation rose slightly less-than-expected in February, increasing by a seasonally adjusted 0.4%, below expectations for a 0.5% gain, while core producer prices rose 0.2% last month, in line with expectations.
The data supported the view that the U.S. economic recovery is gathering momentum, after the Federal Reserve upgraded its outlook on the economy earlier this week, causing investors to lower expectations for a third round of quantitative easing.
However, Fitch Ratings stated that Britain risks losing its top investment grade rating resulting in the FTSE 100 trading lower on the session.
BP and Royal Dutch Shell gave back 1.3% and 0.7% respectively as a false news report increased volatility in the oil market.
Tesco fell 1% after it was announced that Richard Brasher, head of the supermarket chain’s largest unit, will step down in July.
Game Group surged 64% announced it’s in talks for additional funding.
In U.S. midsession trade, stocks are higher with the Dow up 0.34%, the S&P 500 higher by 0.57% and the Nasdaq Composite adding 0.57%.
Investors are awaiting U.S. industrial production, consumer sentiment and capacity utilization, as well as the Bank of Japan’s meeting minutes and Canada’s manufacturing sales on Friday.
At the close of European trade, the EURO STOXX 50 gained 0.74%, France's CAC 40 added 0.44%, while Germany’s DAX advanced 0.92%. Meanwhile, in the U.K. the FTSE 100 traded down by 0.08%.
Sparking the equity rally, the U.S. Department of Labor said number of people who filed for unemployment assistance in the U.S. last week dropped to a four-year low of 351,000, beating expectations for a decline to 356,000.
Offering more equity positive news, separate reports showed that manufacturing activity in the Philadelphia region expanded at a faster than forecast rate in March, rising to the highest level in 11 months, while manufacturing activity in New York improved unexpectedly, climbing to the highest level since June 2010.
Elsewhere, official data showed that U.S. producer price inflation rose slightly less-than-expected in February, increasing by a seasonally adjusted 0.4%, below expectations for a 0.5% gain, while core producer prices rose 0.2% last month, in line with expectations.
The data supported the view that the U.S. economic recovery is gathering momentum, after the Federal Reserve upgraded its outlook on the economy earlier this week, causing investors to lower expectations for a third round of quantitative easing.
However, Fitch Ratings stated that Britain risks losing its top investment grade rating resulting in the FTSE 100 trading lower on the session.
BP and Royal Dutch Shell gave back 1.3% and 0.7% respectively as a false news report increased volatility in the oil market.
Tesco fell 1% after it was announced that Richard Brasher, head of the supermarket chain’s largest unit, will step down in July.
Game Group surged 64% announced it’s in talks for additional funding.
In U.S. midsession trade, stocks are higher with the Dow up 0.34%, the S&P 500 higher by 0.57% and the Nasdaq Composite adding 0.57%.
Investors are awaiting U.S. industrial production, consumer sentiment and capacity utilization, as well as the Bank of Japan’s meeting minutes and Canada’s manufacturing sales on Friday.