BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on Thursday as oil prices dropped to levels last seen before the war in the Middle East on easing geopolitical tensions and technology stocks gained following strong forecasts from U.S. chipmakers Micron and Qualcomm.
On a light day on the economic front, a survey showed German consumer sentiment is set to improve in July, driven by the moderate rise in income and economic expectations.
GfK's consumer sentiment index rose to -29.2 in July from -29.7 in the previous month. However, the reading was weaker than economists' forecast of -27.8.
Elsewhere, French consumer confidence improved in June after falling to a more than three-year low in the previous month.
According to survey data from the statistical office INSEE, the consumer sentiment index rose to 84.0 in June from 82 in May, which was the lowest since March 2023.
The pan-European STOXX 600 was up half a percent at 638.52 after finishing 0.1 percent higher on Wednesday.
The German DAX surged 0.6 percent, while France's CAC 40 and the U.K.'s FTSE 100 both were up around 0.4 percent.
Infineon climbed 5.2 percent and STMicroelectronics gained 3.7 percent as strong earnings and forecasts from Micron and Qualcomm helped ease concerns that the artificial intelligence sector may have entered a 'bubble.'
easyJet shares jumped nearly 7 percent after the British budget airline rejected a fourth takeover proposal from private equity firm Castlelake, L.P.
3i Group shares soared 10 percent. The private equity firm said its largest portfolio company, discount retailer Action, is set for a good quarter of profit growth and had a cash balance of €699m after the payment of dividend.
Outsourcing group Serco fell more than 1 percent despite confirming its 2026 profit guidance.
Swedish fashion retailer Hennes & Mauritz fell 2 percent after Q2 operating profit missed estimates.
SKF, a bearing and seal manufacturer, rose about 1 percent after it announced a strategic investment, together with Stephen Industries and Chalmers Ventures, in startup Anferra AB.
Volkswagen rallied 3 percent after the German automaker agreed to sell a 51 percent stake in its engine subsidiary Everllence to Bain Capital.
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