BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks are likely to open higher on Thursday as investors bet on fresh stimulus to support the economic recovery.
Asian markets moved higher as investors looked past simmering Sino-U.S. tensions to focus on upcoming company earnings.
Chinese stocks extended gains for the eighth straight session after data showed the country's month-on-month consumer inflation rose for the first time in four months in June. Producer prices fell for the fifth consecutive month but at a slower-than-expected rate.
The dollar nursed losses against major currencies as the U.S. and China imposed visa restrictions on each other in tit-for-tat moves over their disagreement on Tibet.
Gold held above $1,800 an ounce and the offshore yuan rose above 7 per dollar to the highest since mid-March, while oil prices dipped as the U.S. faced a bleak summer with record-breaking infections and many states forced to close parts of the economy again.
Foreign trade data from Germany is due later in the session, headlining a light day for the European economic news. Across the Atlantic, all eyes will be on the weekly jobless claims report following a couple quiet days on the economic front.
U.S. stocks rose overnight even as coronavirus cases continued to rise, causing many regions to pause or reverse their reopening plans.
The Dow Jones Industrial Average gained 0.7 percent, the S&P 500 advanced 0.8 percent and the tech-heavy Nasdaq Composite added 1.4 percent.
European markets fell on Wednesday as investors kept an eye on rising coronavirus cases, Brexit negotiations and growing tensions between Washington and Beijing.
The pan-European Stoxx Europe 600 index declined 0.7 percent. The German DAX dropped 1 percent, France's CAC 40 index shed 1.2 percent and the U.K.'s FTSE 100 gave up 0.6 percent.
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