BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open on a positive note Thursday as anxiety over potential U.S.-Iranian conflict eased.
Asian markets gained ground and the dollar rose against its major rivals after U.S. President Donald Trump said he would add economic sanctions on Iran and that the Unites States is 'ready to embrace peace with all who seek it.'
Trump also said that a retaliatory Iranian missile attack on two U.S. bases in Iraq early Wednesday caused no casualties on the U.S. side.
Oil prices edged up in Asian trading after suffering heavy losses in the previous session as geopolitical tensions appeared to be eased.
Benchmark Brent crude rose half a percent after plunging 4.1 percent the previous day. U.S. crude futures added 0.6 percent after tumbling nearly 5 percent on Wednesday.
Gold held steady after surpassing the key $1,600 level on Wednesday following Iran's retaliatory attacks.
In economic releases, U.K. retail sales for 2019 was the worst on record, the British Retail Consortium said today.
Combined retail sales for November and December decreased 0.9 percent. Like-for-like sales fell 1.2 percent. Consequently, the full year retail sales fell 0.1 percent.
Industrial production and foreign trade data from Germany as well as unemployment figures from euro area are due later in the session, headlining a busy day for the European economic news.
Across the Atlantic, a report on weekly jobless claims may attract some attention later today, although trading activity is likely to be somewhat subdued ahead of the release of the Labor Department's more closely watched monthly jobs report on Friday.
Economists expect employment to increase by 160,000 jobs in December after an increase of 266,000 jobs in November. The unemployment rate is expected to hold at 3.5 percent.
Meanwhile, the global economy is poised for a moderate rebound this year, following its weakest performance since the global financial crisis, the World Bank said in its Global Economic Prospects, released earlier today.
Global growth is forecast to rise to 2.5 percent in 2020 from 2.4 percent last year, driven by recovery in trade and investment.
U.S. stocks rose overnight as private sector employment data topped expectations and President Donald Trump indicated the U.S. would hit Iran with new sanctions but not respond militarily.
He also confirmed earlier reports that there were no American casualties as a result of Iran's missile strikes on Iraqi military bases housing U.S. troops.
The Dow Jones Industrial Average gained 0.6 percent and the S&P 500 added half a percent, while the tech-heavy Nasdaq Composite climbed 0.7 percent to close at a fresh record high.
European stocks recovered from a weak start to close mostly higher on Wednesday after Iran fired missiles on Iraqi airbases housing U.S. troops.
The pan European Stoxx 600 edged up 0.2 percent. The German DAX advanced 0.7 percent, France's CAC 40 index rose 0.3 percent and the U.K.'s FTSE 100 finished marginally higher.
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