Stocks saunter higher
STOXX 600 +0.4%
Admiral rallies, Orsted falls
Wall St futures higher
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STOCKS SAUNTER HIGHER
European equity markets are creeping higher on Thursday as the recovery from early August's volatility continues on hopes for interest rate cuts following some mild U.S. inflation readings.
The pan-European STOXX 600 index .STOXX is up 0.4%, taking the index almost 5.5% off its low reached on August 5.
Britain's FTSE 100 .FTSE and Germany DAX .GDAXI are up 0.1% and 0.7%, respectively. Italy's FTSE MIB .FTMIB is closed for a public holiday.
The insurance sector .SXIP is one of the leading sectors, boosted by a more than 10% jump in Admiral ADML.L shares after the company announced a special dividend as its first-half profit topped forecasts.
Renewable energy group Orsted ORSTED.CO is at the bottom of the STOXX 600, down 7.5%, after it flagged impairment losses due to a delay in the construction of a major U.S. offshore wind project.
Here's your opening snapshot:
(Samuel Indyk)
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THURSDAY'S OTHER LIVE MARKETS POSTS:
FUTURES POINT TO POSITIVE OPEN CLICK HERE
DATA TESTS LOOM FOR FED, BOE CLICK HERE
Rates and inflation Rates and inflation https://tmsnrt.rs/3U8HdD2
UK inflation inches above 2% in July UK inflation inches above 2% in July https://reut.rs/4fCwhZb
European equities continue recovery https://reut.rs/3SQMd09
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