Here are the opening calls
The Millennium Bridge in London, on July 4, 2025.
Jonathan Brady – Pa Images | Pa Images | Getty Images
Good morning from London, and welcome to CNBC’s live blog covering all the action and business news in European financial markets on Thursday.
Futures data from IG suggest a positive open for European indexes as hopes of a U.S.-EU trade deal rise, with London’s FTSE 100 seen opening 0.4% higher, France’s CAC 40 up 1.3%, Germany’s DAX up 1.1%, and Italy’s FTSE MIB 1.24% higher.
European markets rose Wednesday amid hopes that the U.S. and European Union could be closing in on a trade deal. Regional stocks jumped yesterday after the Financial Times reported that the two large trading partners were closing in on a 15% tariff deal.
Optimism that a deal was close rose after President Donald Trump announced that he had completed a “massive Deal” with Japan, and hinted that Europe could be next.
“We have Europe coming in tomorrow, and the next day, we have some other ones coming in,” Trump said late on Tuesday, without specifying details.
— Holly Ellyatt
ECB decision and a raft of earnings ahead
Flags for the European Union members stand during a ceremony to lay a cornerstone for the new European Central Bank (ECB) headquarters in Frankfurt, Germany.
Hannelore Foerster | Bloomberg | Getty Images
It’s a busy day for central banks and corporates on Thursday.
The European Central Bank is widely expected to keep interest rates unchanged as it gauges the trade tariff landscape.
On the earnings front, reports are set to come from BNP, Roche, Nokia, Nestle, Lloyds Banking Group, BT Group, Reckitt Benckiser Group, ITV, Wizz Air, TotalEnergies, Vodafone, Centrica, Michelin, Dassault Systemes, ST Micro, Carrefour, Deutsche Bank, Deutsche Boerse, LVMH and more.
On the data front, flash European purchasing managers’ index data and Germany’s GfK consumer confidence figures are due.
— Holly Ellyatt
