Market Analysis
Image Credit: Reuters
European shares edged higher on Thursday, with gains in media and technology stocks supporting the index, despite a global downturn following Nvidia's (NASDAQ) quarterly results, which fell short of investor expectations.
The pan-European STOXX 600 index rose by 0.2% as of 0712 GMT.
Media stocks advanced by 0.5%, driven by a 2.3% increase in Universal Music Group (AS).
The tech sector also climbed 0.3%, helping lift the index as European investors largely brushed off Nvidia's disappointing quarterly forecast, which did not meet the high expectations of global investors.
On the downside, the oil and gas sector declined by 0.2%, weighed down by a nearly 2% drop in Equinor.
Spain's IBEX 35 index gained 0.1% following data indicating that inflation fell to 2.4% in August.
Upcoming data on European economic and business sentiment is scheduled for release at 0900 GMT, while German consumer price figures are expected at 1200 GMT.
Investors will also be closely monitoring comments from European Central Bank's chief economist Philip R. Lane, who is set to participate in a panel at 0915 GMT.
Additional ECB officials, including Deputy Governors Aino Bunge (NYSE) and Olli Rehn, are also scheduled to speak in panel discussions.
In other stock movements, Pernod Ricard (EPA) rose 2% after the Western spirits maker reported full-year sales that were largely in line with forecasts.
Paraphrasing text from "Reuters" all rights reserved by the original author.