Investing.com - European stocks pushed 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 afternoon trade, the EURO STOXX 50 rallied 0.98%, France’s CAC 40 climbed 0.69%, while Germany’s DAX 30 jumped 0.94%.
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 0.76% and 2.21%, while Germany's Deutsche Bank jumped 1.17%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA gained 0.65% and 1.16% respectively, while Italy's Intesa Sanpaolo and Unicredit rallied 1.96% and 2.48%.
Elsewhere, Adecco surged 3.99% after the provider of temporary workers reported increased profit and said it sees positive signs for business. Second-quarter net income rose 12% to EUR126 million, beating the average estimate.
On the downside, Nestle tumbled 2.40% after the food company posted the slowest first-half sales growth in four years.
In London, commodity-heavy FTSE 100 advanced 0.46%, supported by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton advanced 0.98% and 2.68%, while rivals Antofagasta and Polymetal soared 4.06% and 6.59% respectively.
Financial stocks were also broadly higher, as shares in HSBC Holdings edged up 0.07% and Lloyds Banking climbed 0.43%, while Barclays and the Royal Bank of Scotland gained 0.76% and 0.85%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.32% gain, S&P 500 futures signaled a 0.31% rise, while the Nasdaq 100 futures indicated a 0.38% 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 afternoon trade, the EURO STOXX 50 rallied 0.98%, France’s CAC 40 climbed 0.69%, while Germany’s DAX 30 jumped 0.94%.
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 0.76% and 2.21%, while Germany's Deutsche Bank jumped 1.17%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA gained 0.65% and 1.16% respectively, while Italy's Intesa Sanpaolo and Unicredit rallied 1.96% and 2.48%.
Elsewhere, Adecco surged 3.99% after the provider of temporary workers reported increased profit and said it sees positive signs for business. Second-quarter net income rose 12% to EUR126 million, beating the average estimate.
On the downside, Nestle tumbled 2.40% after the food company posted the slowest first-half sales growth in four years.
In London, commodity-heavy FTSE 100 advanced 0.46%, supported by gains in mining stocks.
Mining giants Rio Tinto and BHP Billiton advanced 0.98% and 2.68%, while rivals Antofagasta and Polymetal soared 4.06% and 6.59% respectively.
Financial stocks were also broadly higher, as shares in HSBC Holdings edged up 0.07% and Lloyds Banking climbed 0.43%, while Barclays and the Royal Bank of Scotland gained 0.76% and 0.85%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.32% gain, S&P 500 futures signaled a 0.31% rise, while the Nasdaq 100 futures indicated a 0.38% 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.