Europe stocks were mostly higher Thursday, as investors focused on one of the busiest earnings days in the region with reports from major companies such as Nestle, Sanofi, Linde and Shell.
Stoxx Europe 600 was up 1.09%, the Swiss Market Index by 0.66%, France's CAC added 1.30% and Germany's DAX by 0.88%. On the other hand, London's FTSE 100 edged down 0.04%.
Outside the earnings rush, European Commission data revealed Thursday that economic sentiment in the eurozone for July dropped lower than estimates, while the July final consumer confidence index confirmed the flash estimate of -27 points.
The bloc's biggest economy Germany, meanwhile, reported a slight easing in inflation in July for the second month in a row. Headline inflation was up 7.5% year over year, compared with the 7.6% seen in June, while harmonized inflation climbed to 8.5% from 8.2%.
"For the ECB, today's drop in German headline inflation does not bring any relief. Not only because the harmonized inflation measure actually increased but also because German inflation data actually sends a different important message: it is currently not central banks but governments that can effectively bring down inflation," ING wrote in a note.
"Still, even with this in mind and despite the looming recession, we expect the ECB to continue normalizing monetary policy at the end of the summer with another 50bp hike before taking a long pause."
SIX Group launched the China-Switzerland Stock Connect platform, which allows listed companies in Shenzhen and Shanghai to list global depositary receipts on the Swiss bourse. The program kicked off with the listing of GEM, Gotion High-tech, Keda Industrial Group and Ningbo Shanshan. The companies raised an aggregate $1.6 billion.
In corporate news, TotalEnergies (TTE.L) shares were down 1.5% in London after keeping its $2 billion share buyback through Q3 amid market expectations of an upsize to the program due its bumper H1 results. Meanwhile, Schneider Electric (SU.PA) added 6.5% after the company upgraded its 2022 outlook following a strong H1 performance.