European stock markets edged higher on Thursday, showing resilience despite investor concerns about central bank autonomy in the U.S. and unease ahead of an approaching deadline for potential American tariffs.
The broader mood was cautious as market participants weighed mixed economic signals. In Germany, consumer confidence took an unexpected dip heading into July. According to a joint survey from GfK and the Nuremberg Institute for Market Decisions, the forward-looking sentiment index slipped to -20.3 from -20.0 the previous month, falling short of expectations for an improvement to -19.1. The decline was attributed to a rise in savings intent, which outweighed improved income expectations.
Despite the soft economic data, key European indices posted gains. Germany’s DAX climbed 0.5%, the UK’s FTSE 100 added 0.4%, and France’s CAC 40 advanced 0.2%.
Among individual movers, investment firm 3i Group (LSE:III) saw its shares rise after reporting continued strong sales momentum at its majority-owned discount retailer, Action, which posted year-to-date like-for-like sales growth of 6.9%.
Topps Tiles (LSE:TPT) gained ground following executive leadership changes, including the appointment of a new CEO and interim CFO. Retailer Next (LSE:NXT) also traded higher after delivering a strong first-quarter update and raising its full-year guidance for the second time.
Construction group Balfour Beatty (LSE:BBY) rose after securing a major £833 million contract from Technip Energies, marking a win in the large-scale infrastructure space.
Meanwhile, shares of Swedish fashion giant H&M rallied sharply as the company posted better-than-expected profits for its second quarter, offering a rare bright spot in the sector.
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