European markets rose cautiously Thursday as investors awaited U.S. economic data due later in the day for further signs that the recession plaguing the world's largest economy is stabilizing, AP reported. In European morning trading, Britain's FTSE 100 was up 0.3 percent at 4,450.37, Germany's DAX rose 0.5 percent to 5,077.67, and France's CAC 40 added 0.3 percent at 3,324.72. Wall Street was set to open moderately higher. Dow Jones industrial average futures rose 0.3 percent to 8,779 and Standard & Poor's 500 futures climbed 0.3 percent to 943.60. Asian stock markets were mixed, with Japan's benchmark Nikkei index pulling back from its first move above 10,000 in eight months amid conflicting signs about the strength of an economic recovery. In Europe, volumes were low ahead of the publication of U.S. weekly jobless claims and retail sales, both due at 1230 GMT. «It's going to be a matter of hanging on till later in the afternoon,» said James Hughes, market analyst at CMC Markets. «There's a real lack of corporate data which leaves the market pretty directionless and open to big swings.» Oil and gas stocks were buoyed by crude prices rising to $72 a barrel amid investor optimism about a global economic recovery. Benchmark crude for July delivery was up 77 cents at $72.10 in European trading on the New York Mercantile Exchange. In Asia, Tokyo's Nikkei 225 index lost 0.1 percent to 9,981.33. It wavered in a narrow range after a surge early in the day took it above the psychologically important 10,000 mark for the first time since Oct. 8. But signs of upward pressure on U.S. interest rates, which could quash a nascent economic recovery, and some weak economic data from the region offset gains in Tokyo-listed steel shares. Strong investment data from China initially overcame investors' qualms over an imminent resumption of initial public offerings on the mainland that some fear will flood the market with new shares.
