European equity markets were poised for a strong open on Thursday as investors braced for a new wave of corporate earnings, with results due from Hermes, Siemens, Unilever, Anheuser-Busch InBev, and Mercedes-Benz. Despite headwinds in the fourth quarter, the European earnings outlook has remained resilient, and major indices are still in positive territory for the year to date.
On the macroeconomic front, attention will center on UK fourth-quarter GDP figures, with annual growth forecast at 1.2% and quarter-on-quarter expansion at 0.2%. At the same time, stronger-than-expected US employment data have dampened expectations of an imminent Federal Reserve rate cut, injecting a note of caution into global markets. Investors are now looking ahead to US inflation data due on Friday for further guidance on monetary policy.
In premarket trading, Euro Stoxx 50 futures advanced 0.7%, while Stoxx 600 futures were up 0.5%.
