A raft of earnings beats from high-profile companies added to the bullish momentum, propelling the Stoxx Europe 600 index one per cent higher to a two-month high, while U.S. futures pointed to a strong Wall Street session. Contracts on the tech-heavy, policy-sensitive Nasdaq 100 were up 1.3 per cent, led by an eight per cent premarket surge in Facebook parent Meta Platforms Inc.
Meanwhile, a predicted 25-basis-point rate rise later Thursday from the European Central Bank could be one of its last moves this cycle. More than half of all companies have beat analyst estimates so far, and today stands to be the busiest of the second-quarter calendar. Among individual European movers, BNP Paribas SA, Nestle SA and Carrefour SA all rallied after topping estimates. On the downside, Shell Plc retreated despite pledging more buybacks as its profits fell from last year's highs. Barclays Plc slumped on back of a 41 per cent decline in quarterly trading revenue.
Many reckon that as support from a hawkish Fed fades, the dollar could be set to pivot weaker, in a potentially bullish signal for other global assets.