Investing.com – European stocks were up on Thursday, paring recent losses on better-than-expected earnings reports and amid hopes that an EU-IMF aid package for Greece would be granted in time to avert a default.
During early European trade, France’s CAC 40 was up 1.05%; Britain's FTSE 100 gained 0.78%; Germany's DAX rose 0.62%; and the EURO STOXX 50 was up 1.05%
Industrial conglomerate Siemens, meanwhile, rose 0.9% and consumer goods giant Unilever advanced 3.71% after both companies posted positive earnings reports.
Earlier in the day, EU Economic and Monetary Affairs Commissioner Olli Rehn said the European Union should complete negotiations with Greece "within days" on the aid package for the debt-ridden country, which is conditional on it cutting its gaping budget deficit.
The outlook for U.S. markets was also rosy: Dow Jones Industrial Average futures indicated a gain of 0.52%, S&P 500 Index futures pointed to a rise of 0.75% and Nasdaq 100 Index futures indicated an increase of 0.57%.
Also Thursday, official data showed that German unemployment fell at the fastest pace in more than two years in April. The Federal Labor Agency said number of Germans out of work fell a seasonally adjusted 68,000 to 3.29 million during the month; economists had expected a more modest decline of 11,000.
Later in the day, the U.S. Labor Department was set to publish a weekly report on initial jobless claims, an important gauge of overall economic health.
During early European trade, France’s CAC 40 was up 1.05%; Britain's FTSE 100 gained 0.78%; Germany's DAX rose 0.62%; and the EURO STOXX 50 was up 1.05%
Industrial conglomerate Siemens, meanwhile, rose 0.9% and consumer goods giant Unilever advanced 3.71% after both companies posted positive earnings reports.
Earlier in the day, EU Economic and Monetary Affairs Commissioner Olli Rehn said the European Union should complete negotiations with Greece "within days" on the aid package for the debt-ridden country, which is conditional on it cutting its gaping budget deficit.
The outlook for U.S. markets was also rosy: Dow Jones Industrial Average futures indicated a gain of 0.52%, S&P 500 Index futures pointed to a rise of 0.75% and Nasdaq 100 Index futures indicated an increase of 0.57%.
Also Thursday, official data showed that German unemployment fell at the fastest pace in more than two years in April. The Federal Labor Agency said number of Germans out of work fell a seasonally adjusted 68,000 to 3.29 million during the month; economists had expected a more modest decline of 11,000.
Later in the day, the U.S. Labor Department was set to publish a weekly report on initial jobless claims, an important gauge of overall economic health.