European stocks look set to extend gains for a second straight session on Thursday as investors bet on further stimulus from the European Central Bank at its December 3 meeting. That said, trading volumes are expected to be light amid the Thanksgiving Day holiday in the U.S.
U.S. stocks finished narrowly mixed overnight as positive data on jobless claims, durable goods orders, new home sales, personal income and spending offset somewhat disappointing readings on consumer sentiment and inflation.
The economic calendar remains light, with Eurozone M3 money supply and German consumer confidence figures slated for release in the European session.
The euro remained under selling pressure while U.S. crude futures held above $43 a barrel on data showing a smaller-than-expected supply build and a drop in the U.S. rig count.
Prices of many commodities like copper and nickel continued to hover near multi-year lows as the dollar held steady in the wake of mostly positive U.S. data released overnight.
Asian stocks were mostly higher, with sentiment supported by easing geopolitical concerns and hints of new stimulus from the ECB.
In corporate news, twelve of the biggest players in interest-rate swap trading, including BNP Paribas, Royal Bank of Scotland, UBS Group, Barclays Plc, Credit Suisse Group and Deutsche Bank were sued for allegedly limiting competition in the $320 trillion interest-rate swap market.
The Australian Competition and Consumer Commission announced that it would not oppose FedEx Corp.'s proposed acquisition of TNT Express N.V.
European stocks rebounded from Tuesday's hefty losses on Wednesday as investors relegated geopolitical worries to the back burner and focused on economic and corporate news. The German DAX rallied 2.2 percent, France's CAC 40 index climbed 1.5 percent and the U.K.'s FTSE 100 advanced 1 percent.
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