European stocks extended gains on Thursday, boosted by technology and mining stocks, on expectations of a strong earnings season even as investors fretted over higher inflation crimping an economic recovery.
The pan-European STOXX 600 index rose 0.7% by 0710 GMT, with miners jumping 2.1% and tech stocks up 1.4%.
European semiconductor companies including ASML, AMS, and BE Semiconductor were among the top gainers after Taiwan chip giant TSMC posted a 13.8% jump in third-quarter profit on the back of booming demand for semiconductors.
A debate over the transitory nature of inflation continued as China’s factory-gate inflation rose in September to a record high on soaring commodity prices. Investors are awaiting U.S. producer prices data later in the day. The reading is also expected to show a surge in prices.
French advertising group Publicis gained 2.9% after it raised its outlook for 2021 as a global shift towards digital media and e-commerce helped its third-quarter organic growth exceed market expectations. British rival WPP rose 0.6%.
Dutch navigation and digital mapping company TomTom fell 7.0% after it warned that supply chain problems in the auto sector could last until the first half of next year.
The FTSE MIB climbed Up by 0.54% to 26,103.20. In the cash markets, the DAX Germany was trading up 0.50% to 15,325.65. CAC 40 in France rose by 0.62% to 6,638.37 while the FTSE 100 in the U.K. were up by 0.66% to 7,188.35. , at the time of writing.