LIVE MARKETS-Europe before the bell: futures signal further gains
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EUROPE BEFORE THE BELL: FUTURES SIGNAL FURTHER GAINS
European equity futures are higher on Thursday, continuing a rally from the day before when U.S. and UK inflation data showed signs of moderating.
Euro STOXX 50 futures STXEc1 are up 0.7% after the index rose 1% on Wednesday, its biggest daily rise in a week and a half.
Futures on Germany's DAX FDXc1, France's CAC 40 FCEc1 and Britain's FTSE 100 FFIc1 are up 0.3-1.1%.
Corporate updates have come thick and fast with luxury group Richemont CFR.S posting higher than expected third-quarter sales, a positive sign for the sector over the holiday season.
Automaker Stellantis STLAM.MI said its shipments were down 9% in Q4.
Sticking with the autos sector, Chinese officials and automakers are eyeing German auto factories slated for closure, particularly interested in Volkswagen's VOWG.DE sites, a source told Reuters.
Europe's chipmakers may also be in focus after Taiwan Semi 2330.TW, the world's largest contract chipmaker, logged record quarterly profit in Q4 and said it expects hefty first-quarter revenue growth as demand surges for chips used in artificial intelligence processing.
(Samuel Indyk)
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