The pan-European Stoxx 600 climbed 0.6% in early trade, with travel and leisure stocks jumping 1.7% to lead the way as almost all sectors and major bourses entered positive territory.
The positive trend in European markets comes as U.S. stock index futures were modestly higher in Thursday early morning trading. This comes after the Dow on Wednesday posted its best day in months as investors await updates on the ongoing fiscal stimulus discussions.
The major averages rose sharply on Wednesday after President Donald Trump tweeted support for aid to airlines and other stimulus measures, stoking hopes that a smaller aid package could be passed by lawmakers.
Stocks fell on Tuesday after Trump said that he told his administration to end coronavirus stimulus talks with Democrats until after the election.
Federal Reserve officials expressed concern during their September meeting that the U.S. economic recovery could stall if Congress didn’t pass more fiscal stimulus, according to released minutes.
Stocks in Asia-Pacific were mostly higher in Thursday trade, with shares in Hong Kong lagging among the region’s major markets.
On the data front, German exports rose for the fourth consecutive month, growing 2.4% in August after a 4.7% rise in July, according to the Federal Statistics Office.
In terms of individual share price movement, betting group GVC Holdings climbed 7% after posting a 12% rise in third-quarter revenue and upping its core earnings outlook.
At the bottom of the European blue chip index, Swedish communications company Sinch and British investment platform Hargreaves Lansdown both fell by more than 4%.