European Shares Set to Rise on Strong Earnings

European stocks were indicated to open higher in the last day of a holiday-shortened week.

Sharon Lorimer

European shares hit a one-week closing high on Wednesdayas strong earnings boosted auto and tech shares.

Technology stocks were buoyed by strong results from US chip maker Intel ahead of Nokia's earnings on Thursday.

Dutch chip equipment maker ASML, French firm STMicroelectronics, British chip designer ARM Holdings and German group Infineon all saw sharp gains.

The sovereign debt crisis continued to simmer in the background. Spain sawsolid demand for its bondsin an auction, though talk surrounding Greek debt pushed Spanish benchmark bond yields to near euro lifetime highs, Reuters reported.

The German Ifo institute releases its influential business climate index for April on Thursday, while in the UK March retail sales figures are due.