LONDON: Asian and European stocks mostly rose Thursday, after another strong Wall Street performance, as bright US data reinforced global optimism.
Frankfurt, Paris, Madrid and Milan equities all forged a path to higher ground, but London turned flat in midday deals after its opening was delayed by a technical glitch.
"European markets are following their US counterparts higher... as markets continue to brush aside fears over a potential trade war," said IG analyst Joshua Mahony.
G7 leaders will descend on Quebec on Friday and Saturday for a summit dominated by world trade after Donald Trump sparked global fury by imposing steel and aluminium tariffs on Canada, Mexico and the European Union.
That was met with retaliatory measures from all three.
Canadian Prime Minister Justin Trudeau and German Chancellor Angela Merkel have said they expect tense discussions, while Japanese Finance Minister Taro Aso has referred to the G7 as the "G6+1", highlighting the growing divisions.
In currency deals, the euro meanwhile continued its recovery from last week's Italy-fuelled plunge, with the European Central Bank's top economist saying it would discuss winding down its crisis-era stimulus.
- Fine fettle -
New York stocks rose Wednesday, with the Nasdaq hitting a third straight record, after a record reading on US exports for April, which indicated the world's top economy is in fine fettle.
Banks were among the big winners as the ECB's massive bond-buying regime, which has kept borrowing costs low, appears to be coming to an end after chief economist Peter Praet said such a move would be on the agenda at next week's policy meeting.
The European single currency -- which had dallied with $1.15 last week -- advanced once again above $1.18 on Thursday after breaching the level the precious day.
"The euro has been a one of the biggest movers in the foreign exchange space this week, as rising expectations of a hawkish shift from the ECB next month drive a move into the single currency," added Mahony.
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