LONDON — European stocks moved higher connected Thursday, gathering connected affirmative momentum successful the erstwhile session.
The pan-European Stoxx 600 added 0.7% by 10:57 a.m. successful London (5:57 a.m. ET) to commercialized astatine an all-time high.
Germany's DAX, past seen trading 1.2% higher, led gains among large determination bourses, portion London's FTSE 100 was small changed aft touching a grounds precocious during Wednesday's session.
Technology stocks led gains successful Europe connected Thursday morning, pursuing reports that OpenAI had sold shares worthy a full $6.6 billion, valuing the institution astatine $500 billion.
By precocious morning, the Stoxx Europe Technology scale had jumped 2.3% higher. Semiconductor stocks led gains successful the sector, with Be Semiconductor adding 5.6%. ASMI gained 5.8%, portion ASML was up by 4.3%.
Elsewhere, autos stocks besides posted notable gains, with the Stoxx Automobiles and Parts scale gaining 2.2%.
Shares of Stellantis popped 7%, taking the banal toward the apical of the Stoxx 600. The institution reported a 6% year-on-year summation successful third-quarter U.S. sales, with its Jeep, Chrysler, Ram and Fiat brands each seeing growth.
Stellantis stock price
Volvo shares were past seen up by 1.2% aft the institution reported a 1% yearly emergence successful planetary car income successful September.
In different firm news, British market elephantine Tesco reported better-than-expected first-half net connected Thursday. The institution raised its guidance for the afloat year, saying it present expects adjusted operating nett to autumn successful the scope of £2.9 cardinal and £3.1 cardinal ($3.9 cardinal and $4.2 billion). It had antecedently forecast yearly adjusted operating nett of £2.7 cardinal to £3 billion.
Shares of Tesco were 3.4% higher successful aboriginal trade.
Elsewhere, Deutsche Bank lowered its terms people for Danish jewelry elephantine Pandora by 4.3% connected Thursday.
"We update our forecasts, opting to enactment the crisp emergence successful the outgo of metallic to ... done our estimates," said Deutsche Bank's Alison Lygo, though she noted that with a beardown selling campaign, Pandora could instrumentality stainless alloy into its merchandise premix to offset the headwind.
Pandora's shares were 0.6% lower, wiping retired earlier gains.
Market absorption besides remains connected the U.S. authorities unopen down after Republicans — including President Donald Trump — and Democrats failed to hold connected a short-term woody connected authorities backing earlier this week.
The shutdown means September jobs information volition not beryllium released connected Friday, arsenic scheduled, clouding the outlook for the Federal Reserve conscionable weeks up of its adjacent meeting.
Still, the cardinal slope is expected denote an involvement complaint chopped astatine its Oct. 28-29 gathering aft Wednesday morning's ADP information reflected a driblet successful backstage payrolls past month, and arsenic further ramifications of the ongoing shutdown stay to beryllium seen.
U.S. banal futures were small changed Wednesday nighttime aft the S&P 500 logged a caller precocious arsenic investors shrugged disconnected concerns tied to the shutdown.
Overnight successful Asia-Pacific markets, South Korea's Kospi scale jumped much than 3% Thursday to deed an all-time high, lifted by gains successful heavyweight Samsung Electronics and SK Hynix.
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