European markets were not feeling the Wednesday blues, opening up. The benchmark indices were propped up by carmakers and luxury goods.
In London, the FTSE 100 was up 0.32% at 6,745.61.
In the U.K the economy grew faster than expected in the second quarter, preliminary data from the Office for National Statistics show. GDP grew by 0.6% in the three months to June, compared with 0.4% in the first quarter of 2016. Economists polled by Bloomberg were expecting a growth of 0.5%.
French consumer confidence fell in July, according to official data from Insee, France's statistic agency. The consumer confidence index fell 1 point. The fall was in line with expectations, however only 2% of respondents replied after the terrorist attacks in Nice on July 14.
The country is now grappling with another attack that took place yesterday in Normandy and saw a priest killed while giving mass.
In Paris, the was propped up by luxury good makers and car makers Cac 40 was recently up 1.20% at 4,446.29.
Luxury goods house LVMH (LVMUY) surged this morning with shares up well over 7% after releasing first-half earnings yesterday after markets closed. The company said stronger demand for champagnes and cognacs offset falling tourism in France.
The company reported profit of €2.96 billion ($3.25 billion), which was in line with analysts' expectations of €2.92 billion. In the second-quarter sales rose by 4%, this was well ahead of the 2.9% expected by analysts.
The wines-and-spirits business saw revenues grow by 13% due to champagne sales in the U.S. and Europe and improved cognac sales in China. Sales in the fashion and leather goods division were up just 1%.
Peugeot was up 8.33% in Paris. The carmaker today said its turnaround strategy was working helping it double profits in the first half of the year. First-half profits were EUR1.2 billion, compared with EUR571 million in the same time period last year.
In Frankfurt, the Dax was up 0.83% at 10,333.89.
Volkswagen (VLKAY) gained 2.81% in morning trading, after it announced it had delivered 2.93 million cars worldwide in the first half of the year. This is comparable to the 2.95 million delivered in the first half of 2015 before the diesel emission scandal broke. Sales were boosted by China. The carmaker releases its results tomorrow.
Daimler (DDAIY) shares were recently up 2.8% ahead of its earnings release later today.
Deutsche Bank (DB) - Get Report shares lost more than 5% this morning after CEO John Cryan said the bank may need to step up its restructuring program as it reported a 98% decline in quarterly net profit to €20 million.