European stocks rise ahead of key PMI data; Nvidia boosts sentiment
Investing.com — European stock markets rose Thursday, continuing the Nvidia-inspired global surge as investors digested more earnings reports ahead of important regional business activity data.
At 03:05 ET (08:05 GMT), the DAX index in Germany traded 1.3% higher, the CAC 40 in France traded up 1% and the FTSE 100 in the U.K. gained 0.%.
Global sentiment received a boost overnight after Nvidia (NASDAQ:NVDA)'s hotly anticipated quarterly report easily beat estimates, prompting sharp gains for the chipmaker in after-market trading.
Nvidia has been a top beneficiary of technology companies' race to build artificial intelligence into their products and services, meaning its outlook was seen as a major test of whether Wall Street's recent rally is likely to continue or potentially reverse.
The Nikkei index in Japan soared to a record high earlier Thursday, European indices have also pushed higher, and Nasdaq futures point to hefty gains for the tech-heavy index when Wall Street opens later in the session.
Back in Europe, there are more earnings to digest.
Lloyds (LON:LLOY) stock rose 0.7% after the U.K. lender reported a 57% jump in profit for 2023, as Britain's faltering economy and a charge for potential costs from a regulatory review into motor finance failed to put a major dent in its performance.
Rolls-Royce (OTC:RYCEY) stock soared over 8% after the U.K. engineering firm said annual profit more than doubled last year, and it forecast a further jump in 2024.
Nestle (SIX:NESN) stock fell 0.5% after the world’s largest packaged food company reported full-year organic sales growth slightly below expectations as higher prices prompted shoppers to seek out cheaper alternatives.
There is also important economic data news to
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