Investing.com - European stocks remained higher on Thursday, despite disappointing German data as markets continued to watch political developments in Germany and Italy, while trade volumes were expected to remain thin with U.S. markets closed for the Thanksgiving Day holiday.
During European afternoon trade, the EURO STOXX 50 added 0.26%, France’s CAC 40 edged up 0.11%, while Germany’s DAX 30 rose 0.32%.
Data showed that the number of unemployed people in Germany rose by 10,000 in November, compared to expectations for an increase of 1,000. The country’s unemployment rate was unchanged at 6.9%.
Meanwhile, investors remained focused on events in Germany, after Chancellor Angela Merkel’s Conservative party reached a deal on Wednesday to form a coalition government with the Social Democrats, following weeks of negotiations.
The Italian political front was also in focus, a day after the expulsion of Italian politician and three-time former Prime Minister Silvio Berlusconi from parliament, following a vote in the Italian Senate.
Separately, speaking to journalists on Wednesday, European Central Bank Vice President Vitor Constancio downplayed speculation that the ECB was preparing new long-term loans for banks.
Financial stocks pushed higher, as French lenders BNP Paribas and Societe Generale climbed 0.53% and 0.81%, while Germany's Deutsche Bank jumped 1.68%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander gained 0.73% and 0.82% respectively, while Italy's Unicredit and Intesa Sanpaolo rallied 1.55% and 2.19%.
Elsewhere, Repsol shared added 0.10% amid reports the Madrid-based oil company plans to start negotiating final terms of a compensation deal with Argentina to end a 19-month conflict over the seizure of its YPF unit.
In London, FTSE 100 edged up 0.03%, after the Bank of England’s financial stability report said the economic recovery in the U.K. has strengthened.
On the upside, Thomas Cook shares soared 12.93% after the travel operator reported a 49% increase in full-year profit.
Among financial stocks, HSBC Holdings was up 0.15% and Lloyds Banking rose 0.22%, while the Royal Bank of Scotland edged up 0.20% and Barclays surged 1.71%.
In the mining sector, stocks also turned broadly higher as Glencore Xstrata and Rio Tinto rallied 1.49% and 2.60% respectively, while Randgold Resources and Vedanta Resources jumped 0.83% and 1.14%.
Meanwhile, Kingfisher remained one of the worst performers on the index, down 5.20%, after the home-improvement retailer gave a gloomy outlook for the business climate in France, where a weakened consumer economy weighs on its Castorama and Brico Depot chains.
Rio Tinto earlier said it will cost USD3 billion less than previously expected to meet its goal of increasing iron ore output capacity to 360 million metric tons.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.39% increase, S&P 500 futures signaled a 0.37% gain, while the Nasdaq 100 futures indicated a 0.99% jump.
During European afternoon trade, the EURO STOXX 50 added 0.26%, France’s CAC 40 edged up 0.11%, while Germany’s DAX 30 rose 0.32%.
Data showed that the number of unemployed people in Germany rose by 10,000 in November, compared to expectations for an increase of 1,000. The country’s unemployment rate was unchanged at 6.9%.
Meanwhile, investors remained focused on events in Germany, after Chancellor Angela Merkel’s Conservative party reached a deal on Wednesday to form a coalition government with the Social Democrats, following weeks of negotiations.
The Italian political front was also in focus, a day after the expulsion of Italian politician and three-time former Prime Minister Silvio Berlusconi from parliament, following a vote in the Italian Senate.
Separately, speaking to journalists on Wednesday, European Central Bank Vice President Vitor Constancio downplayed speculation that the ECB was preparing new long-term loans for banks.
Financial stocks pushed higher, as French lenders BNP Paribas and Societe Generale climbed 0.53% and 0.81%, while Germany's Deutsche Bank jumped 1.68%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander gained 0.73% and 0.82% respectively, while Italy's Unicredit and Intesa Sanpaolo rallied 1.55% and 2.19%.
Elsewhere, Repsol shared added 0.10% amid reports the Madrid-based oil company plans to start negotiating final terms of a compensation deal with Argentina to end a 19-month conflict over the seizure of its YPF unit.
In London, FTSE 100 edged up 0.03%, after the Bank of England’s financial stability report said the economic recovery in the U.K. has strengthened.
On the upside, Thomas Cook shares soared 12.93% after the travel operator reported a 49% increase in full-year profit.
Among financial stocks, HSBC Holdings was up 0.15% and Lloyds Banking rose 0.22%, while the Royal Bank of Scotland edged up 0.20% and Barclays surged 1.71%.
In the mining sector, stocks also turned broadly higher as Glencore Xstrata and Rio Tinto rallied 1.49% and 2.60% respectively, while Randgold Resources and Vedanta Resources jumped 0.83% and 1.14%.
Meanwhile, Kingfisher remained one of the worst performers on the index, down 5.20%, after the home-improvement retailer gave a gloomy outlook for the business climate in France, where a weakened consumer economy weighs on its Castorama and Brico Depot chains.
Rio Tinto earlier said it will cost USD3 billion less than previously expected to meet its goal of increasing iron ore output capacity to 360 million metric tons.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.39% increase, S&P 500 futures signaled a 0.37% gain, while the Nasdaq 100 futures indicated a 0.99% jump.