LONDON – European equities rose on Thursday after a global upswing in markets after days of negative sentiment.
The pan-European Stoxx 600 rose 0.3% in early trading, with technology stocks rising 1% as all sectors except financial services traded in a positive area.
European markets are following the positive momentum seen in the session yesterday, and the overarching trade in Asia-Pacific overnight, although the same cannot be said for their US counterparts.
The US stock index futures market declined in overnight trading on Wednesday, despite the fact that equities lost a two-day loss on Tuesday as companies linked to the reopening of the economy rose higher.
Europe has a busy day of earnings Thursday. Nestle, SAP and Renault are among the companies to report today.
Credit Suisse, meanwhile, reported a net loss of 252 million Swiss francs ($ 275 million) as it devoured the impact of the Archegos hedge fund scandal.
The European Central Bank also plans to deliver its latest monetary policy announcement, although no major shifts are expected.
The earnings and data release determined U.S. sentiment from the U.S. market this week with more companies, including AT&T, American Airlines and Intel, reporting on Thursday.
Economic data released on Thursday will also give investors a snapshot of the ongoing economic recovery. The initial claims for unemployment are released at 8:30 a.m. ET, and economists expect a pressure of 603,000, according to Dow Jones estimates.
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– CNBC’s Pippa Stevens contributed to this story