Europe stocks climb, Asia mixed

Treasury yields slip

Crude prices lower

Global stocks edged higher Thursday, amid hopes for U.S.-China trade deal and positive consumer data out of Europe.

The Stoxx Europe 600 opened up 0.5%, with the German DAX up 0.4% and the U.K.’s FTSE 100 up 0.6%.

Stocks in the U.S. rose on Wednesday after President Trump voiced optimism about a trade deal with China, though a formal impeachment inquiry by the U.S. House of Representatives clouded the political outlook.

German consumers’ mood was lifted by the European Central Bank’s stimulus package from earlier in September, according to data released Thursday by the GfK market research group.

Meanwhile, the ECB’s most senior German official unexpectedly resigned on Wednesday amid disputes over the central bank’s bond-buying program, and analysts suggested the move could have an effect on the bank’s decision making going forward.

“This might open up a spot for a more dovish member to replace her, which could make any further attempts to ease policy a little easier, further down the line,” said Michael Hewson, chief market analyst at CMC Markets, in a note.

In Asia, the Nikkei climbed 0.1% after the U.S. and Japan signed a trade-enhancement agreement which will lower agricultural tariffs in Japan, industrial tariffs in the U.S. and set new rules for digital trade.

Other Asian markets were more mixed, with stocks in Shanghai down 0.9%, Hong Kong’s Hang Seng up 0.2% and Korea’s Kospi up 0.1%.

In commodities, oil futures for Brent crude slipped 0.4%, trimming gains made in the wake of attacks on Saudi oil infrastructure the week before last.

The yield on U.S. 10-year Treasurys slipped to 1.703%, from 1.732% on Wednesday. Bond yields and prices move in opposite directions.

Looking ahead, investors were eyeing the coming third reading of U.S. second-quarter gross domestic product and weekly jobless claims.

Mr. Trump remains a major risk to the conclusion of any trade deal, said Ipek Ozkardeskaya, senior market analyst at London Capital Group, in a note. “A tweet would suffice to shatter the market sentiment, again,” she said.

Write to Max Bernhard at

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