European markets open to closing; Financial institution of England resolution on curiosity

LONDON – European stocks edged higher on Thursday, building on gains from the previous session.

All Europe Stoxx 600 rose 0.3% in early trade. Retail stocks rose 2.5%, while telecoms fell 0.4%.

A cautiously positive start for European stocks followed Wednesday’s gains on strong U.S. economic data that quelled investor fears of a looming recession. The ISM non-manufacturing purchasing managers’ index unexpectedly rebounded in July also sent US stocks higher.

The move would push borrowing costs up to 1.75 percent as the central bank battles soaring inflation, and would be the first half-point increase since the rate hike in 1997. it was independent of the British government. UK inflation hit a new 40-year high of 9.4% in June..

Elsewhere overnight, Asia-Pacific stocks edged higher on Thursday after a rally on Wall Street and as investors braced for a controversial visit to Taiwan by US House Speaker Nancy Pelosi.

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Meanwhile US stock futures They were roughly flat on Thursday morning after the major averages posted a two-day decline in the previous regular trading session.

Credit Agricole, Adidas, Bayer, Lufthansa, Merck, Zalando, Rolls-Royce, Next, Glencore and Adecco Group posted earnings before the bell on Thursday.

Lufthansa shares rose 6% to lead the Stoxx 600 after the German posted a smaller-than-expected quarterly loss.

At the bottom of the European blue chip index is a Danish medical device company aroma fell 14% after cutting its margin forecast and announcing it would cut about 200 jobs.

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