LONDON – European shares rose on Thursday, building on the gains they made in the previous session.
pan europe Stokes 600 It added 1.3% by mid-morning, with autos jumping 4.4% to lead the gains while travel and leisure stocks fell 1%.
Tenaris Shares rose 7.5% after Jefferies updated the stock of the Luxembourg-based steel pipe manufacturer to “buy” from “acquisition”.
At the bottom of the Stoxx 600, owner of Ladbrokes get down 9% after cutting full-year guidance, while Danish biosciences company Human Rights Center. Hansen It fell 8% after a disappointing quarterly earnings report.
Sterling pound It surged due to unconfirmed reports that British Prime Minister Boris Johnson is set to resign on Thursday, then More than 50 resignations from his government Under a series of scandals.
European markets consolidated the gains seen on Wednesday, with the leading European stock index closing 1.7% higher. Technology, media and retail stocks rose more than 3% to lead gains as almost all major sectors and exchanges closed in positive territory.
Investors are digesting the minutes of the latest Federal Reserve meeting, released on Wednesday, in which central bank officials reiterated a tough anti-inflation stance, saying that another 50 or 75 point move would “likely be appropriate” at the July 26-27 meeting.
Federal Reserve officials realized that the “most restrictive stance” in policy It may be appropriate if inflation does not abate, even if it slows the economy, the meeting minutes said.
“Participants recognized that policy constancy could slow the pace of economic growth for some time, but considered that a return of inflation to 2% is critical to maximizing employment on a sustainable basis,” the document said.
Overnight, Asia Pacific Markets Most were higher on Thursday, while US stock futures were flat Thursday morning as investors digested the minutes of the latest Federal Reserve meeting.
The European Central Bank will publish the minutes of its latest meeting on Thursday while the G20 foreign ministers meet in Bali.
On the data front, German industrial production rose less than expected in May, expanding 0.2% m/m vs expectations of 0.3%, and down 1.5% y/y.
CNBC’s Jeff Cox contributed to this market report.