(RTTNews) – European stocks closed higher on Thursday, rebounding from losses from the previous session, despite largely negative global market indices.
Data showing an increase in the eurozone’s trade surplus in July due to larger shipments contributed to the positive sentiment in European markets.
The pan-European Stoxx 600 climbed 0.44%. The UK FTSE 100 rose 0.16%, the German DAX 0.23% and the French CAC 40 0.59%, while the Swiss SMI rose 0.36%.
Among other markets in Europe, Belgium, the Czech Republic, Denmark, Greece, Iceland, Ireland, the Netherlands, Spain and Sweden closed higher.
Austria, Portugal, Russia and Turkey fell, while Finland, Norway and Poland finished flat.
Regional automakers have come under some pressure as industry data showed passenger car registrations in Europe declined in August and July after four months of accelerated growth.
In the UK market, Ashtead Group climbed 5.3% after raising its full-year performance outlook.
IAG, Flutter Entertainment, Rolls-Royce Holdings, Intermediate Capital Group, Compass Group, Whitbread, Informa, Smith & Nephew, Smurfit Kappa Group, Kingfisher, Entain and Associated British Foods gained 2-4%.
Ryanair Holdings has rebounded strongly after the low-cost airline raised its traffic forecast for the next five years. EasyJet gained more than 7%.
Rio Tinto lost more than 4% as the mining giant issued a statement on the imposition of penalties by the Australian Taxation Office in connection with an isolated loan used to pay an intragroup dividend in 2015.
Anglo Amercian Plc, Fresnillo, BHP Group, Antofagasta, Glencore and Ocado Group lost 2-4.6%.
On the French market, Schneider Electric, Dassault Systèmes, Capgemini and Safran grew by 2% to 2.6%. Airbus Group, Air France-KLM, Legrand, Unibail Rodamco, Accor, Atos and Essilor also closed sharply higher.
Lagardère stock rose 20% in Paris after Vivendi struck a deal to buy activist investor Amber Capital’s 17.9% stake in the French media and distribution group.
Faurecia shares ended down more than 3%. Valeo lost around 2.4%. Renault, Carrefour, LOreal, Technip and ArcelorMittal lost 1 to 1.9%.
In Germany, Siemens jumped 2.3%. Henkel, Deutsche Post, Linde, Puma, Lufthansa, Covestro and Deutsche Bank gained 1 to 1.8%.
German chemicals giant BASF has found some backing after announcing a strategic partnership with Chinese energy technology company Contemporary Amperex Technology Co.
Continental tumbled more than 5.5%. Thyssenkrupp fell 2.3%, while HeidelbergCement, Volkswagen, Infineon Technologies and BMW lost 1 to 1.7%.
According to Eurostat’s first estimate, the trade surplus increased to EUR 13.4 billion seasonally adjusted from EUR 11.9 billion in June. Exports grew 1% month-on-month, while imports grew only 0.3%.
On an unadjusted basis, exports of goods grew by 11.4% annually and imports grew by 17.1%.
Passenger car registrations in Europe declined in August and July after four months of accelerated growth, data from the Association of European Automobile Manufacturers, or ACEA, revealed on Thursday.
Passenger car sales fell 19.1% year-on-year in August after falling 23.2% in July. Sales totaled 622,993 units in August.
For the second month in a row, the largest auto markets posted double-digit declines.
Investors have also digested the latest batch of economic data from the United States. The Commerce Department said retail sales rose 0.7% in August after falling 1.8% revised in July. Economists had expected retail sales to drop 0.8%.
Another report from the Department of Labor showed that the first claims for unemployment benefits in the United States rebounded slightly more than expected during the week ended September 11.
The report says initial jobless claims climbed to 332,000, an increase of 20,000 from the revised level of 312,000 the previous week.
Economists expected initial jobless claims to reach 328,000 from 310,000 initially reported for the previous week.
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