European Stocks Poised to Bounce Higher Amid Hormuz Reopening
European equity markets are poised to open modestly higher on Thursday, with major regional indexes near record levels despite ongoing volatility in global technology stocks. The sentiment is also supported by reports of a partial reopening of the Strait of Hormuz, which has driven oil prices lower and eased inflation concerns.
This development has reduced expectations for additional interest rate hikes, providing some relief to investors. In addition, investors will be monitoring a fresh batch of economic data, including Eurozone retail sales, German factory orders, and French employment figures.
On the corporate side, earnings are due from major companies such as Siemens, Deutsche Telekom, Rheinmetall, Assicurazioni Generali, and Merck. In premarket trading, futures tied to the Euro Stoxx 50 and Stoxx 600 were both higher by around 0.2%.