Investing.com - European stocks were steady to higher on Thursday, after the release of positive German trade balance data, although ongoing uncertainty over the future of the Federal Reserve's stimulus program continued to weigh.
During European morning trade, the EURO STOXX 50 rose 0.20%, France’s CAC 40 eased up 0.02%, while Germany’s DAX 30 inched 0.01% higher.
Official data showed that Germany's trade surplus expanded more than expected in June, rising to EUR15.7 billion from a surplus of EUR14.6 billion the previous month. Analysts had expected the trade surplus to rise to EUR14.9 billion in June.
The report came after stronger-than-forecast German data on industrial production and factory orders earlier in the week reinforced expectations that the euro zone economy is starting to recover.
But investors remained cautious, as two senior Fed officials said Tuesday that they would not rule out the withdrawal of stimulus measures at the bank’s September meeting.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale climbed 0.60% and 1.43%, while Germany's Deutsche Bank added 0.13%.
Among peripheral lenders, Spanish bank Banco Santander and BBVA edged up 0.11% and 0.18% respectively, while Italy's Intesa Sanpaolo and Unicredit rallied 1.26% and 2.48%.
Elsewhere, Adecco surged 3.24% after the provider of temporary workers reported increased profit and said it sees positive signs for business. Second-quarter net income rose 12% to 126 EURmillion, beating the average estimate.
On the downside, Nestle tumbled 1.70% after the food company posted the slowest first-half sales growth in four years.
In London, commodity-heavy FTSE 100 edged up 0.10%, supported by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton gained 0.89% and 1.29%, while rivals Antofagasta and Polymetal surged 3.05% and 3.65% respectively.
Financial stocks were also mostly higher, as shares in HSBC Holdings inched up 0.01% and Lloyds Banking added 0.29%, while the Royal Bank of Scotland climbed 0.65%. Barclays underperformed on the other hand, easing 0.09%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.17% gain, S&P 500 futures signaled a 0.14% rise, while the Nasdaq 100 futures indicated a 0.19% increase.
Also Thursday, Chinese trade data showed that exports were up 5.1% from a year earlier in June, easing concerns over a slowdown in the world’s second-largest economy. Imports were 10.9% higher on a year-over-year basis, pointing to strong domestic demand.
During European morning trade, the EURO STOXX 50 rose 0.20%, France’s CAC 40 eased up 0.02%, while Germany’s DAX 30 inched 0.01% higher.
Official data showed that Germany's trade surplus expanded more than expected in June, rising to EUR15.7 billion from a surplus of EUR14.6 billion the previous month. Analysts had expected the trade surplus to rise to EUR14.9 billion in June.
The report came after stronger-than-forecast German data on industrial production and factory orders earlier in the week reinforced expectations that the euro zone economy is starting to recover.
But investors remained cautious, as two senior Fed officials said Tuesday that they would not rule out the withdrawal of stimulus measures at the bank’s September meeting.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale climbed 0.60% and 1.43%, while Germany's Deutsche Bank added 0.13%.
Among peripheral lenders, Spanish bank Banco Santander and BBVA edged up 0.11% and 0.18% respectively, while Italy's Intesa Sanpaolo and Unicredit rallied 1.26% and 2.48%.
Elsewhere, Adecco surged 3.24% after the provider of temporary workers reported increased profit and said it sees positive signs for business. Second-quarter net income rose 12% to 126 EURmillion, beating the average estimate.
On the downside, Nestle tumbled 1.70% after the food company posted the slowest first-half sales growth in four years.
In London, commodity-heavy FTSE 100 edged up 0.10%, supported by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton gained 0.89% and 1.29%, while rivals Antofagasta and Polymetal surged 3.05% and 3.65% respectively.
Financial stocks were also mostly higher, as shares in HSBC Holdings inched up 0.01% and Lloyds Banking added 0.29%, while the Royal Bank of Scotland climbed 0.65%. Barclays underperformed on the other hand, easing 0.09%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.17% gain, S&P 500 futures signaled a 0.14% rise, while the Nasdaq 100 futures indicated a 0.19% increase.
Also Thursday, Chinese trade data showed that exports were up 5.1% from a year earlier in June, easing concerns over a slowdown in the world’s second-largest economy. Imports were 10.9% higher on a year-over-year basis, pointing to strong domestic demand.