Stocks – Europe
In Europe, the equities market climbed on Thursday as investors await a string of economic reports including the eurozone’s first-quarter GDP report and inflation results for April.
The European Euro Stoxx 50 gained 0.26% to 3,218.79 at the time of writing, while the German DAX added 0.41% to 9,794.18. At the same time the French CAC 40 climbed 0.11% trading at 4,506.23, while the UK benchmark FTSE 100 rose 0.18% to 6,891.01.
GDP Reports
Traders will be focusing on the release of GDP reports from the eurozone , while the GDP in Germany showed that the nation’s economy expanded by 2.5% in the first quarter on an annual basis, up from the previous figure of 1.3% seen in the previous quarter, reports from the Federal Statistical Office showed.
In France, the gross domestic product (GDP) for the country’s first quarter over the year grew by 0.8%, according to official data from the National Institute of Statistics.
Italy’s first quarter GDP over the year is forecasted to show a drop of 0.1%, while a rise of 0.2% on a quarterly basis is expected to be seen.
The eurozone is expected to have expanded by 1.1% year-on-year and 0.4% quarter-on-quarter, according to market analysts.
Another major economic report in the spotlight is the consumer-price inflation rate for the eurozone, with forecasts of 0.7% on an annual basis in April.
Stocks – Asia
Stocks in Asia were seen trading lower on Thursday, with the stronger yen dragging stocks lower.
The Japanese benchmark Nikkei 225 index dived 0.75% lower closing the session at 14,298.21 points, while Tokyo’s Topix index fell 0.69% lower, ending at 1,175.02.
The yen strengthened ¥101.8 against the greenback on Thursday, dragging the Japanese carmakers, Honda Motor Company Ltd. Lower by 2%, while Toyota lost 1.5%.
Japan’s gross domestic product (GDP) grew by 1.5% in the last quarter, surpassing analysts’ forecast of a rise by 1%, data from the Cabinet Office showed on Thursday.
Hong Kong’s Hang Seng index advanced 0.3% trading at 22,649.91 points, while the mainland Chinese Shanghai Composite lost 0.74% to 2,032.79 points.
China’s largest internet-provider, Tencent reported a profit of 6.46 billion yuan in the first quarter on Thursday.
South Korea’s benchmark Kospi index retreated 0.03% to 2,010.20 points, while the Australia’s S&P/ASX 200 index edged 0.14% higher closing at 5,504.00 points.
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