The Pan-European Stakes 600 climbed 0.6% in early trading, with retail stocks gaining 1.6% in all sectors to enter positive areas.
The mood in European markets is following a trend in the US, where stock futures rose slightly in overnight trading as investors began the fourth quarter expecting fiscal stimulus.
The Dow futures climbed 115 points. S&P 500 futures and Nasdaq 100 futures ticked 0.25% and 0.3% respectively.
On Wednesday, the Dow Jones Industrial Average rose more than 300 points, exceeding the 550 mark as expected, after the White House and Senate would agree to a second stimulus package. However, the vote was delayed after Speaker of the House Nancy Pelosi and Treasury Secretary Steven Menuchin failed in the coronovirus aid deal; However the pair said that the talks would continue.
Meanwhile, Japan’s Tokyo Stock Exchange in Asia halted trading on Thursday due to a technical issue, while several major markets in the region (in China, Hong Kong, South Korea and Taiwan) are closed for the holidays.
The epidemic dominates investor sentiment, with news about potential coronavirus vaccines. The CEO of drugmaker Modern has said he does not expect to apply for an emergency use authority with the Food and Drug Administration for the company’s potential Kovid-19 vaccine after the US presidential election on 3 November.
Speaking to the Financial Times, CEO Stephen Bansell said: “25 November is the time when we will have enough security data to be put into the European Union. [emergency use authorization] The file we will send to the FDA – assuming the safety data is good, that is, a vaccine is considered safe, ”he said.
On the data front, a portion of European countries’ final readings of the September PMI data have been released and are due to the unemployment rate of the euro zone for August.
On Thursday morning French-Italian chipmaker STMicro and Swedish retailer H&M were both major factors in the rise in the price of individual share in earnings, beating both third-quarter forecasts and climbing more than 6%.
At the bottom of the European blue-chip index, Bayer shares fell more than 11% after the German pharmaceutical giant announced cost cuts and loss charges, revising its guidance.
– CNBC’s Maggie FitzGerald and Estance Huang contributed to this market report.