Tech and media stocks boost European shares

(Reuters) - European shares inched up on Thursday, with media and technology stocks boosting the index, bucking a global dip after Nvidia (NASDAQ:NVDA )'s quarterly results failed to impress investors.

The pan-European STOXX 600 index was up 0.2%% by 0712 GMT.

Media stocks gained 0.5%, led by a 2.3% jump in Universal Music Group (AS:UMG ).

The tech sector rose 0.3%, boosting the index as European investors shrugged off Nvidia's quarterly forecast that failed to meet the lofty expectations of global investors.

In contrast, the oil and gas sector dropped 0.2%, dragged down by a nearly 2% fall in Equinor.

Spain's benchmark IBEX 35 gained 0.1% after data showed that inflation fell to 2.4% in August.

Data on European economic and business sentiment is due at 0900 GMT, while German consumer prices figures are expected at 1200 GMT.

Markets will also look out for commentary from European Central Bank's chief economist Philip R. Lane, who is participating in a panel at 0915 GMT.



Other ECB deputy governors such as Aino Bunge (NYSE:BG ) and Olli Rehn also are taking part in panel discussions.

Among other moving stocks, Pernod Ricard (EPA:PERP ) gained 2% after the Western spirits maker reported full-year sales that were largely in-line with forecasts.

Source: Investing.com