European Markets Seen Gaining On Thursday

(RTTNews) - Stock markets in Europe are expected to open higher on Thursday amidst positive sentiment generated by the conclusion of the longest federal closure in U.S. history. An improved global risk sentiment and updates to earnings are seen swaying sentiment even as concerns about tech valuation lingered.

Wall Street had closed on a mixed note on Wednesday as markets braced for an end to the U.S. government shutdown. The Dow Jones Industrial Average added 0.68 percent to finish trading at 48,254.82. The tech-heavy Nasdaq Composite however shed 0.26 percent to close trading at 23,406.46 amidst valuation concerns.

European markets had closed on a positive note on Wednesday amidst expectations of the U.S. government reopening, Fed rate cut hopes as well as strong corporate results. Germany's DAX as well as the pan-European Stoxx-50 surged 1.2 percent followed by France's CAC 40 that gained 1.0 percent. Switzerland's SMI added 0.80 percent whereas U.K.'s FTSE 100 edged up 0.12 percent.

Current indications from the European stock futures indicate a positive sentiment. The DAX Futures (Dec) is trading 0.4 percent higher followed by the pan-European Stoxx 50 Futures (Dec) that is trading 0.33 percent higher. The FTSE 100 Futures (Dec) is trading 0.13 percent higher. The CAC 40 Futures (Nov) is 1.1 percent above the flatline. The SMI Futures (Dec) had closed 0.54 percent higher on Wednesday.

American stock futures are trading in mildly positive territory. The US 30 (DJIA) is trading 0.33 percent higher, whereas the US500 (S&P 500) is trading 0.22 percent above the flatline.

Asian stock markets are trading on a mixed note. South Korea's KOSPI has rallied 0.57 percent. China's Shanghai Composite has added 0.50 percent amidst rise to 10-year high levels. Japan's Nikkei 225 has added 0.41 percent. India's Nifty 50 has witnessed an increase of 0.18 percent. Australia's S&P ASX 200 declined 0.66 percent after robust jobs data reduced expectations of monetary policy easing. S&P NZX 50 also declined 0.54 percent. Hong Kong's Hang Seng has slipped 0.47 percent.

The Dollar Index, a measure of the U.S. dollar's strength relative to six currencies, is trading at 99.52, a tad above the flatline. The EUR/USD pair has in the meanwhile slipped 0.04 percent to 1.1588 and the GBP/USD pair has dropped 0.08 percent to trade at 1.3122. The USD/CHF pair is trading 0.11 percent higher at 0.7987.

Gold prices have edged down 0.03 percent after the massive surge on Wednesday. Gold Futures for December settlement are trading at $4,212.26, versus the previous close of $4,213.60.

Both the crude oil benchmarks are trading below the flatline. Brent Crude Futures for January settlement is trading at $62.67 versus $62.71 at close on Wednesday. WTI Crude Futures for December settlement is currently at $58.41 versus $58.49 at the previous close.

Major releases due from the region include third quarter GDP update from U.K and third quarter unemployment data from France. Speeches by several key officials of the European Central Bank are scheduled for the Thursday. The ECB's Economic Bulletin and International Energy Agency's Oil Market Report are also due for release on Thursday.

Major updates to earnings from the region scheduled for Thursday include Siemens, Deutsche Telekom, Enel, Assicurazioni Generali, Merck, KBC Groep as well as 3I Group.