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European stocks rebounded from recent losses and closed higher on Thursday as optimism over EU-US trade deal, and some encouraging earnings news helped underpin sentiment.<\/p>\n
The EU bloc is readying a package of tariffs to be levied on 72 billion euros’ ($84bn) worth of goods against the U.S, if negotiations failed. <\/p>\n
News about a deal between US and EU firms to buy US natural gas has stoked speculation of a broader trade agreement. The EU’s chief trade negotiator, Maro\u0161 \u0160efcovic, left for Washington on Wednesday for high-level talks aimed at rescuing a deal ahead of Trump’s deadline.<\/p>\n
The pan European Stoxx 600 climbed 0.62%. The U.K.’s FTSE 100 gained 0.43%, Germany’s DAX closed up 0.74% and France’s CAC40 ended 0.83% up. Switzerland’s SMI advanced 0.43%.<\/p>\n
Among other markets<\/span> in Europe, Belgium, Czech Republic, Finland, Greece, Iceland, Ireland, Netherlands, Poland, Spain, Sweden and Turkiye closed higher.<\/p>\n Austria, Denmark and Russia ended weak, while Norway and Portugal closed flat.<\/p>\n In the UK market, Diploma rallied 6.5%. Whitbread, Ashtead Group, Intermediate Capital Group, Melrose Industries, Barclays, IMI, Lloyds Banking Group, Polar Capital Technology Trust, Standard Chartered, Weir Group, Rolls-Royce Holdings, Associated British Foods, Smith & Nephew, Spirax Group, BAE Systems, Taylor Wimpey and JD Sports Fashion gained 2 to 3.4%.<\/p>\n Online supermarket and technology<\/span> group Ocado soared more than 14% after reporting better-than-expected first-half results.<\/p>\n Easyjet closed nearly 5% down, after strike action by French air traffic controllers and higher fuel prices dented its quarterly performance.<\/p>\n AstraZeneca ended 1.2% down. Endeavour Mining lost 2.7%. British American Tobacco, Anglo American Plc, Glencore, Severn Trent, Fresnillo and Antofagasta also closed lower.<\/p>\n In the German market, Siemens Energy climbed about 4.7%. Siemens gained a little over 4%. MTU Aero Engines, SAP, Infineon Technologies, Deutsche Bank, Bayer, Qiagen, Deutsche Telekom, Deutsche Post, Rheinmetall, BASF, Siemens Healthineers and Merck gained 1 to 2.5%.<\/p>\n E.ON, BMW, Deutsche Boerse, Adidas, Vonovia and RWE closed weak.<\/p>\n In the French market, Legrand jumped 9% thanks to upbeat first-half results. The company has also raised its full-year sales growth forecast to 10-12%, from 6-10% guidance it had given earlier.<\/p>\n Schneider Electric climbed about 7.7% on reprts that the company is in talks to acquire the remaining 35% stake in its Indian subsidiary. <\/p>\n Saint Gobain, Airbus, Stellantis, Dassault Systemes, BNP Paribas, Edenred, Vinci, Safran, Bouygues, Societe Generale, Teleperformance and Thales closed with sharp to moderate gains.<\/p>\n Publicis Groupe closed more than 6.5% down. The stock fell as the company reported weaker-than-expected interim results.<\/p>\n In economic releases, data showed the U.K. unemployment rate rose unexpectedly to 4.7% in the three months to May, while it was forecast to remain unchanged at 4.6%.<\/p>\n Pay growth slipped from 5.3% to 5%, spurring hopes the Bank of England will cut interest rates next month.<\/p>\n Euro area inflation rose slightly to the European Central Bank’s 2% target in June, as initially estimated, final data from Eurostat showed.<\/p>\n Annual inflation moved up to 2% in June from 1.9% in May. The rate came in line with the estimate published on July 1.<\/p>\n Core inflation that excludes prices of energy and food held steady at 2.3%, as estimated.<\/p>\n At 0.3%, the monthly growth in the harmonized index of consumer prices matched the flash estimate. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n