European Shares Inch Higher On Trade Deal Hopes
(RTTNews) - European stocks inched higher on Thursday, haling a four-day losing streak on optimism over a potential trade deal between the United States and the European Union.
The 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.
In economic releases, data showed the U.K. unemployment rate rose unexpectedly to 4.7 percent in the three months to May, while it was forecast to remain unchanged at 4.6 percent.
Pay growth slipped from 5.3 percent to 5 percent, spurring hopes the Bank of England will cut interest rates next month.
The pan European STOXX 600 was up 0.6 percent at 545.28 after falling 0.6 percent on Wednesday following disappointing earnings updates from the likes of ASML Holdings and Renault.
The German DAX climbed 0.8 percent, France's CAC 40 added 0.9 percent and the U.K.'s FTSE 100 was up 0.4 percent.
In corporate news, low-cost airline EasyJet slumped 6.6 percent after strike action by French air traffic controllers and higher fuel prices dented its quarterly performance.
Advertising firm Publicis Groupe fell nearly 2 percent despite posting strong Q2 results and upgrading its annual growth guidance.
Swatch Group rallied 2.3 percent. After reporting falling sales and profits, the watchmaker indicated that the slump in demand for luxury timepieces in China is bottoming out.
ABB shares surged 6.5 percent. The industrial-technology company reported record order intake and profit margins in the second quarter of 2025.
Rivals Siemens and Schneider Electric jumped 2.8 percent and 4.9 percent, respectively.
Online supermarket and technology group Ocado soared 13 percent after reporting better-than-expected first-half results.
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