Illustration shows the logo of Deutsche Bank Brussels, Saturday 25 March 2023.
Nicolas Maeterlinck | Afp | Getty Images
LONDON — European stocks opened higher on Thursday, as traders focused on a raft of earnings reports from some of Europe’s biggest companies.
The pan-European Stoxx 600 was up 0.35% shortly after 8:00 a.m. in London (3:00 a.m. ET) following the previous day’s retreat.
The U.K.’s FTSE index opened 0.28% higher, while Germany’s DAX was down 0.56%, as France’s CAC 40 advanced 0.64% and Italy’s FTSE MIB gained 0.43%.
Earnings were reported from Deutsche Bank, ING, Wizz Air, Roche, Swedbank, ABB, Sanofi, Nokia, STMicroelectronics and SAP, among others.
CNBC will be interviewing a variety of chief executives and financial officers on Thursday, the list includes: Deutsche Bank CFO James Von Moltke, ING CFO Tanate Phutrakul, DWS CFO Markus Kobler, Wizz Air CEO József Váradi, Roche CEO Thomas Schinecker, Swedbank CEO Jens Henriksson, SAP CFO Dominik Asam and SEB CEO Johan Torgeby.
U.S. markets are also focused on earnings season, with Apple’s fiscal first-quarter earnings report due later Thursday after the bell. Mastercard, Caterpillar and Lockheed Martin are also set to post results.
S&P 500 futures were little changed Wednesday evening as traders assessed the Federal Reserve’s decision to keep its benchmark rate steady at a target range of 3.5% to 3.75%.
In its post-meeting statement, the policy-setting Federal Open Market Committee said that indicators are suggesting that “economic activity has been expanding at a solid pace” and that the unemployment rate “has shown some signs of stabilization.”
Fed funds futures trading are still pricing in two quarter-percentage-point cuts by the end of 2026, according to the CME FedWatch Tool. Asia-Pacific markets mostly traded lower Thursday.
— CNBC’s Pia Singh contributed to this market report.
