Investing.com - European stocks were higher on Thursday, after the release of mixed economic reports out of the euro zone, while speculation that the Federal Reserve could delay the tapering of its bond purchases persisted.
During European morning trade, the EURO STOXX 50 climbed 0.66%, France’s CAC 40 rose 0.31%, while Germany’s DAX 30 gained 0.57%.
Official data earlier showed that Spain's unemployment rate ticked down to 26.0% in the third quarter, from 26.3% in the three months to June, compared to expectations for a fall to 26.1%.
In France, Markit research group said the manufacturing purchasing managers' index declined to 49.4 in October, from a reading of 49.8 in September, confounding expectations for a rise to 50.1.
France's services PMI fell to 50.2 this month from a reading of 51.0 in September, disappointing expectations for a rise to 51.3.
In Germany, Markit said its manufacturing PMI rose to 51.5 in October, from 51.1 in September, in line with expectations.
Germany's services PMI declined to 52.3 this month, from a reading of 53.7 in September, confounding expectations for a rise to 53.9.
Elsewhere, data earlier in the week showing that U.S. jobs growth slowed in September cemented expectations that the Fed would continue the current pace of its asset purchase program well into next year.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale rallied 1.81% and 1.66%, while Germany's Deutsche Bank climbed 0.40%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA rose 0.22% and 0.54% respectively, while Italy's Intesa Sanpaolo and Unicredit jumped 1.03% and 1.90%.
Elsewhere, Daimler surged 2.37% after the maker of luxury vehicles said third-quarter earnings before interest and taxes rose 16% to EUR2.23 billion, surpassing market expectations.
In London, FTSE 100 rose 0.34%, supported by sharp gains in the financial sector.
Shares in Barclays climbed 0.89% and the Royal Bank of Scotland rallied 1.43%, while Lloyds Banking advanced 1.77%. HSBC Holdings underperformed however, down 0.14%.
In the mining sector, stocks were mostly higher, with Glencore Xstrata gaining 0.76% and Rio Tinto up 0.36%, while rival company Fresnillo jumped 1.36%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.39% rise, S&P 500 futures signaled a 0.44% increase, while the Nasdaq 100 futures indicated a 0.45% gain.
Also Thursday, the preliminary reading of China’s HSBC manufacturing index for October rose to a seven-month high of 50.9, up from a final reading of 50.2 in September. Economists had expected the index to tick up to 50.5.
The data offset fears over the Chinese economy, a day after market sentiment was hit by concerns that China’s central bank would tighten monetary policy to help control inflation.
Later in the day, the U.S. was to release data on initial jobless claims, the trade balance and new home sales.
During European morning trade, the EURO STOXX 50 climbed 0.66%, France’s CAC 40 rose 0.31%, while Germany’s DAX 30 gained 0.57%.
Official data earlier showed that Spain's unemployment rate ticked down to 26.0% in the third quarter, from 26.3% in the three months to June, compared to expectations for a fall to 26.1%.
In France, Markit research group said the manufacturing purchasing managers' index declined to 49.4 in October, from a reading of 49.8 in September, confounding expectations for a rise to 50.1.
France's services PMI fell to 50.2 this month from a reading of 51.0 in September, disappointing expectations for a rise to 51.3.
In Germany, Markit said its manufacturing PMI rose to 51.5 in October, from 51.1 in September, in line with expectations.
Germany's services PMI declined to 52.3 this month, from a reading of 53.7 in September, confounding expectations for a rise to 53.9.
Elsewhere, data earlier in the week showing that U.S. jobs growth slowed in September cemented expectations that the Fed would continue the current pace of its asset purchase program well into next year.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale rallied 1.81% and 1.66%, while Germany's Deutsche Bank climbed 0.40%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA rose 0.22% and 0.54% respectively, while Italy's Intesa Sanpaolo and Unicredit jumped 1.03% and 1.90%.
Elsewhere, Daimler surged 2.37% after the maker of luxury vehicles said third-quarter earnings before interest and taxes rose 16% to EUR2.23 billion, surpassing market expectations.
In London, FTSE 100 rose 0.34%, supported by sharp gains in the financial sector.
Shares in Barclays climbed 0.89% and the Royal Bank of Scotland rallied 1.43%, while Lloyds Banking advanced 1.77%. HSBC Holdings underperformed however, down 0.14%.
In the mining sector, stocks were mostly higher, with Glencore Xstrata gaining 0.76% and Rio Tinto up 0.36%, while rival company Fresnillo jumped 1.36%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.39% rise, S&P 500 futures signaled a 0.44% increase, while the Nasdaq 100 futures indicated a 0.45% gain.
Also Thursday, the preliminary reading of China’s HSBC manufacturing index for October rose to a seven-month high of 50.9, up from a final reading of 50.2 in September. Economists had expected the index to tick up to 50.5.
The data offset fears over the Chinese economy, a day after market sentiment was hit by concerns that China’s central bank would tighten monetary policy to help control inflation.
Later in the day, the U.S. was to release data on initial jobless claims, the trade balance and new home sales.