European Stocks Extend Gains; Thomas Cook Rallies

European stock markets continued to rise on Thursday, with shares of Thomas Cook Group PLC rallying after a well-received earnings report, and investors digesting the latest German unemployment figures.

The Stoxx Europe 600 index  climbed 0.2% to 324.65, building on a 0.6% gain from Wednesday. U.S. markets will be closed for the Thanksgiving holiday.

Shares of Thomas Cook Group PLC  rallied 10% after the travel operator narrowed its full-year loss and laid out further cost cuts as a part of a plan to turn around the U.K. business.

Peugeot SA  added 3.1% after the French car maker’s departing Chief Executive Philippe Varin late Wednesday said he will give up his proposed company pension.

On a more downbeat note, shares of Kingfisher PLC  slid 5.7% after the U.K. do-it-yourself retailer reported a 1.4% rise in third-quarter same-store sales, but admitted that challenges still remain.

On the macroeconomic news front, data out of Germany showed the country’s unemployment rate held steady at 6.9% in November, meeting analyst expectations. The number of people without a job, however, went up by 10,000, which was more than forecast. Later in the day, inflation data for the country is out.

Germany’s DAX 30 index  climbed 0.3% to 9,377.93, on track for another record close. France’s CAC 40 index  gained 0.2% to 4,301.62 and the U.K.’s FTSE 100 index  rose 0.1% to 6,657.88.

Source : Marketwatch