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European markets climb higher with FTSE 100 leading gains over continental peers

Adriaan Pask, Chief Investment OfficerPSG Wealth

European markets climb higher with FTSE 100 leading gains over continental peers

European markets closed firmly higher on Thursday, with the FTSE 100 outperforming its continental peers, rising 0.60% as mining and energy stocks provided support. The rally across the region came as investors weighed a fresh round of corporate earnings and reassessed the outlook for European trade. The Eurozone’s STOXX 50 advanced 1.60% to 5 370, while the pan-European STOXX 600 gained 1% to close at 547.  

Among the standout performers on the continent, Schneider Electric soared 7.70% amid speculation it may acquire the remaining 35% stake in its Indian subsidiary from Temasek. ASML recovered 3.90% after losses in the previous session triggered by cautious forward guidance. Tech and banking stocks also contributed positively to the broader gains. Swiss engineering group ABB jumped 9.90% on record order intake, though not all corporate fared well. Nordea shed 2.70% after reporting weaker-than-expected profits. Pharmaceutical giant Novartis fell nearly 2%, despite beating profit expectations and unveiling a $10 billion share buyback. In the UK, EasyJet shares dropped 5% after warning that French air traffic control strikes and rising fuel prices would weigh on earnings. 

US stocks moved higher on Thursday, supported by upbeat economic data and a series of strong corporate earnings reports. The S&P 500 rose by 0.41%, while the Dow Jones Industrial Average added 105 points. The tech-focused Nasdaq Composite outperformed, climbing 0.83% to close at 20 901.93. PepsiCo shares surged over 5% after the company posted results that topped expectations. United Airlines also impressed, gaining 6% following robust earnings. Investor sentiment was buoyed by a solid start to the earnings season. Of the roughly 50 S&P 500 companies that have reported so far, around 88% have surpassed analysts’ forecasts, according to data from FactSet. Meanwhile, fresh economic figures pointed to continued resilience in the US economy. The US Department of Labor reported that initial jobless claims for the week ending 12 July fell to 221 thousand.

Asian stock markets showed a mixed performance, as investors remained cautious over global growth concerns, the US Federal Reserve’s policy outlook and China’s slow-paced recovery. Japan’s Nikkei 225 rose 0.60% to close at 39 901.19, helped by strength in exporters and tech stocks amid a softer yen. China’s Shanghai Composite also edged higher, closing up 0.31% at 3 514.56, driven by investor hopes for further stimulus to support the weak property and manufacturing sectors. In contrast, Hong Kong’s Hang Seng Index dipped 0.07% to 24 499.40, pressured by lingering economic concerns and regulatory uncertainty, especially in its technology and real estate sectors. 

The South African rand weakened against a stronger US dollar on Thursday, as investor attention turned to the G20 meeting of finance ministers. By 14h36 GMT, the rand was trading at 17.86 to the dollar, around 0.30% weaker than its closing level on Wednesday. During the summit, South Africa called on G20 nations to demonstrate global and cooperative leadership in addressing key challenges, including the rise in trade barriers, as the meeting took place under the looming threat of new US tariffs.

Gold prices fell by 0.74% on Thursday to $3,339.92 per ounce, reversing the modest gains from the previous session, as evidence of a resilient US economy eased expectations of an imminent interest rate cut by the Federal Reserve. In contrast, platinum surged 6.16%, reaching a near 11-year high, while silver edged up by 0.18%. Brent crude oil also advanced, rising 0.95% to trade at $69.17 per barrel.

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Market Indicators
DateIndexCurrent Level1 Day Move1 Month Move6 Month Move1 Year Move
Date2026-09-25T00:00:00IndexALSICurrent Level111564.581 Day Move-1.571 Month Move-4.406 Month Move3.721 Year Move8.73
Date2026-09-25T00:00:00IndexBasic mineralsCurrent Level87200.371 Day Move-1.871 Month Move-9.516 Month Move7.701 Year Move20.45
Date2026-09-25T00:00:00IndexFin + Ind 30Current Level12955.941 Day Move-1.441 Month Move-1.636 Month Move2.121 Year Move3.58
Date2026-09-25T00:00:00IndexFinancialCurrent Level62396.461 Day Move-0.991 Month Move-1.176 Month Move7.681 Year Move23.23
Date2026-09-25T00:00:00IndexIndustrial indexCurrent Level127803.411 Day Move-1.961 Month Move-2.466 Month Move-3.391 Year Move-11.11

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