European stock markets were set to open higher on Thursday, poised to extend this week’s rally thanks to a rebound in technology shares, as investors continued to evaluate the outlook for the artificial intelligence trade.
Caution persisted, however, amid softness in U.S. equity futures, with Nvidia under pressure following reports that its board was considering removing CEO Jensen Huang over allegations of multiple affairs. Lower oil prices also lent support to equities, as the U.S. and Iran appeared to step back from further military escalation despite an ongoing diplomatic stalemate.
Investors will also be watching the latest UK GDP data for additional insight into the region’s economic performance. On the corporate side, focus will shift to earnings reports from several major European companies, including Siemens, Allianz, Enel, Munich Re, and Merck.
In pre-market trading, futures on the Euro Stoxx 50 and Stoxx 600 rose 0.3% and 0.5%, respectively.
