Traders works at the stock exchange in Frankfurt, Germany.
Daniel Roland | Afp | Getty Images
LONDON — European markets were mostly higher on Thursday as investors digested a fresh round of corporate earnings and looked ahead to a key U.S. inflation print, which could provide hints about the Federal Reserve’s next monetary policy move.
The pan-European Stoxx 600 index was up 0.4% by late morning, with insurance stocks adding 2% to lead gains on the back of strong earnings, while mining stocks slipped 0.6%.
The European blue chip index closed Wednesday’s session up 0.4%, with oil and gas stocks adding 2.3% to lead gains as most sectors finished the day in positive territory.
July’s consumer price index is due out of the U.S. at 1:30 p.m. London time, and will be closely watched as market participants try to gauge whether the Fed will hike interest rates further, and for how long the central bank will keep policy tight. The Federal Open Market Committee will meet in September to decide its next move.
Economists polled by Dow Jones expect July CPI grew by 0.2% from the prior month and gained 3.3% on a year-over-year basis.
Shares in Asia-Pacific were mixed overnight as investors braced for the July CPI reading. Japanese stocks led gains, while Hong Kong’s Hang Seng index lagged.
Stateside, stock futures were higher in early premarket trade after another negative session on Wall Street.
Back in Europe, corporate earnings continue to roll in and influence individual share price action. Siemens, Zurich Insurance, Thyssenkrupp, Deutsche Telekom, HelloFresh and Deliveroo were among the big names reporting before the bell on Thursday.