Investing.com - European stocks continued to move higher Thursday, on improved U.S. jobless claim numbers and a pending deal in the mining sector.
After the close of European trade, the EURO STOXX 50 advanced 0.30%, France's CAC 40 gained 0.27%, while Germany's DAX surged 0.59%. Meanwhile, in the U.K. the FTSE 100 climbed 0.09%.
U.S. data indicated that the number of filings for unemployment assistance last week dropped more than expected to 367,000 beating estimates for a decline of 373,000.
Economists believe jobless claims below 400,000 indicate an improving labor market. They have remained below 400,000 in 12 of the last 14 weeks.
However, renewed Greek tensions tempered the bullish move as Eurogroup head, Jean Claude Juncker stated talks with private creditors on the debt restructuring plan have proven to be “ultra difficult”.
The mining sector was lifted as Xstrata soared 9.9% after confirming that Glencore has offered to buy shares in the company it doesn’t already own.
Glencore already owns a 34% stake in the USD35 billion Xstrata. Glencore’s shares advanced 5.5% on the news.
Retailer, Benetton Group surged 17% after the founding family stated it will make an offer for the outstanding shares.
In bearish news, Deutsche Bank fell 1.6% after a 76% profit plunge due to curbed trading activity caused by the euro zone crisis.
Drug maker, Astra Zeneca gave back 3.8% after providing disappointing guidance for 2012.
Investors are awaiting the U.S. non farm payrolls, factory orders as well as service sector activity and house price inflation from the U.K. .
After the close of European trade, the EURO STOXX 50 advanced 0.30%, France's CAC 40 gained 0.27%, while Germany's DAX surged 0.59%. Meanwhile, in the U.K. the FTSE 100 climbed 0.09%.
U.S. data indicated that the number of filings for unemployment assistance last week dropped more than expected to 367,000 beating estimates for a decline of 373,000.
Economists believe jobless claims below 400,000 indicate an improving labor market. They have remained below 400,000 in 12 of the last 14 weeks.
However, renewed Greek tensions tempered the bullish move as Eurogroup head, Jean Claude Juncker stated talks with private creditors on the debt restructuring plan have proven to be “ultra difficult”.
The mining sector was lifted as Xstrata soared 9.9% after confirming that Glencore has offered to buy shares in the company it doesn’t already own.
Glencore already owns a 34% stake in the USD35 billion Xstrata. Glencore’s shares advanced 5.5% on the news.
Retailer, Benetton Group surged 17% after the founding family stated it will make an offer for the outstanding shares.
In bearish news, Deutsche Bank fell 1.6% after a 76% profit plunge due to curbed trading activity caused by the euro zone crisis.
Drug maker, Astra Zeneca gave back 3.8% after providing disappointing guidance for 2012.
Investors are awaiting the U.S. non farm payrolls, factory orders as well as service sector activity and house price inflation from the U.K. .