Europe markets rise as investors look to economic data; Pernod Ricard jumps 5%

LONDON — European markets were higher as trading began on Thursday as investors looked to economic data from across the region and assessed the tech sector after Wednesday’s Nvidia earnings release.

The pan-European Stoxx 600 was 0.44% higher at 9:09 a.m. London time, with major regional bourses and sectors mostly trading in the green. Oil and gas and insurance stocks pulled back slightly, while tech rose 0.85%.

That comes after the Stoxx 600 closed higher on Wednesday.

Shares in French beverage maker Pernod Ricard jumped Thursday and were last up 5%. The company on Thursday reported a 1% drop in net sales on an organic basis for its full fiscal year 2024 and said it was expecting organic sales to grow again in the coming fiscal year.

Separately, Reuters reported that China’s commerce ministry said that it would not impose provisional anti-dumping subsidies on brandy imported from the European Union.

On the data front in Europe, Spain’s national statistics office said the preliminary consumer price index for August came in at 2.2%. Inflation data is also due out of Germany on Thursday, and euro area economic sentiment insights are expected.

Investors were closely watching the tech sector after artificial intelligence heavyweight Nvidia posted its latest quarterly results. The AI chipmaker beat expectations and issued stronger-than-expected guidance for the ongoing quarter, but traders had been hoping for a stronger beat.

Nvidia shares dropped in extended trading following the earnings release. Investors will be watching for any spillover into the wider tech, AI and chips sector.

Asia-Pacific markets pulled back on Thursday, with the tech sector dragging some regional indexes. U.S. futures were last mixed after a losing session on Wednesday.