European stocks rose in early trade on Thursday following an upbeat session on Wall Street, as attention shifted to the latest US retail sales figures due later in the day.
At 0900 BST, the benchmark Stoxx Europe 600 index, Germany’s DAX and France’s CAC 40 were all up 0.7% at 466.91, 15,719.70 and 6,628.75, respectively.
Neil Wilson, chief market analyst at Markets.com, said: “European stock markets were modestly higher on Thursday after a rebound in the US and another dip for Asian equities overnight.
“Hong Kong was down 1.7% as casino stocks fell again, and is now testing the lows struck in July and August, down about 20% from its February peak. Indebted real estate group Evergrande fell another 7%. Gold struggled to hold the $1,800 level as Treasury yields climbed a touch. The dollar is a bit stronger after yesterday’s decline.”
On the macroeconomic calendar, US August retail sales are expected to show a 0.8% monthly decline.
“But soft data would hardly dampen the mood, after Tuesday’s inflation eased worries of a too tight Federal Reserve stance,” said Swissquote analyst Ipek Ozkardeskaya
In corporate news, Lagardere shares surged 20% after Vivendi agreed to buy activist investor Amber Capital’s 17.9% stake in the French media group.
Elsewhere, London-listed equipment hire company Ashtead rallied as it said its annual performance would beat its previous expectations and reported a 53% increase in operating profit for the first quarter.
