This was CNBC's live blog covering European markets.

European markets closed higher on Thursday as traders digested a slew of earnings and assessed fresh inflation data for a signal on the possible trajectory of interest rate cuts.

The pan-European Stoxx 600 provisionally ended the day 1.08% higher, with all sectors and major bourses trading in the green. Tech stocks led gains, up 3.13%, while autos and oil and gas both added around 1.7%.

Shares of Burberry jumped more than 22%, after the British luxury house announced a sweeping overhaul strategy to stem declining sales. They ended the day up 18.7%.

It comes amid another busy day of earnings, with Siemens, Bilfinger, Merck, Fincantieri, Geox, Generali, Veon, Metro Bank, Aviva and Deutsche Telekom among other firms reporting during the session.

Investors are assessing the likelihood of another interest rate cut by the U.S. Federal Reserve in December after the latest U.S. inflation data. The October consumer price index came in as expected on Wednesday, with prices adding 2.6% on an annual basis, but signaled that the Federal Reserve's fight against inflation is yet to be won.

Data released Thursday showed that wholesale prices rose 0.2% in October, also in line with expectations.

Investors are also deliberating whether a post-election rally following Donald Trump's decisive victory last week still has legs after propelling U.S. major averages to new highs. U.S. stocks were little changed Thursday, while Asia-Pacific markets traded in mixed territory overnight.

European markets close higher, snapping 2 day losing streak

European markets closed higher Thursday, picking up steam after recording two consecutive days of losses.

The pan-European Stoxx 600 provisionally ended the day 1.08% higher, with all sectors trading in the green. Tech stocks led gains, up 3.13%, while autos and oil and gas both added around 1.7%

Regional bourses also widely rose Thursday, with France's CAC 40 adding 1.3% and Germany's DAX rising 1.26%. The U.K.'s FTSE 100 was 0.51% higher at the end of the trading day.

— Sophie Kiderlin

Merck KGaA working to strengthen its pipeline through external innovation, its CFO says

Merck KGaA CFO Helene von Roeder on Thursday told CNBC that the company saw growth in its life science division for the first time since early 2023 in the third quarter, while its healthcare segment showed "strong and solid organic growth."

In its electronics business, Merck KGaA saw interest in its AI-based material, but the overall semiconductor market did not yet return to growth, she explained.

The science and technology company reported its third-quarter earnings on Thursday, saying net sales came to 5.3 billion euros ($5.6 billion) in the period, growing 3.8% year-on-year on an organic basis.

Shares in Merck KGaA were down 3.7% at 3:52 p.m. London time.

Von Roeder also addressed the company's drug trials, saying the firm was continuing to try and strengthen its pipeline through external innovation.

— Sophie Kiderlin

Industry needs more investment and less bureacracy, says Bilfinger CEO

Stocks open little changed for second straight session

Stocks were little changed shortly after the opening bell on Thursday, with Wall Street still trying to extend a postelection rally.

The S&P 500 ticked up 0.1%, while the Nasdaq Composite 0.1%. The Dow Jones Industrial Average gained 95 points, or 0.2%.

— Brian Evans

U.S. wholesale inflation inches up in October

U.S. wholesale prices inched 0.2% higher in October, coming in in line with expectations, fresh data from the Bureau of Labor Statistics showed Thursday.

The producer price index, which measures what producers get for their products, ticked up one-tenth of a percentage point from September. Headline wholesale inflation rose 2.4% year-on-year.

It comes after the consumer price index increased 0.2% in October, taking the annual inflation rate to 2.6%.

— Karen Gilchrist

Euro zone employment rate and GDP rise in the third quarter: Eurostat

Employment in the euro zone ticked up slightly more then expected in the third quarter, while the economy expanded modestly, fresh data showed Thursday.

Employment in the bloc increased 0.2% over the period, twice as fast as predicted in a Reuters poll of economists. Meantime, the economy grew 0.4% over the three month period, Eurostat said.

The prints provide further evidence that the region may be heading toward a soft landing following the long-running battle to tame inflation.

— Karen Gilchrist

Trump's proposed tariffs will push up global inflation, Siemens warns

Siemens CEO Roland Busch said Thursday that U.S. tariffs were likely to have an inflationary effect on global prices, as he weighed in on President-elect Donald Trump's proposed trade agenda.

The German technology company pointed to "geopolitical uncertainty including trade conflicts" ahead, when delivering its fourth-quarter results Thursday. However, Roland said he did not expect his business to be hit directly.

"From a Siemens perspective, we don't have too much of a concern except of global higher inflation due to higher tariffs," he told CNBC's Annette Weisbach.

— Karen Gilchrist

Stocks on the move: Burberry jumps 11%, Swiss Re down 1.6%

Shares of Burberry jumped 11% in opening trade after the British luxury house announced a sweeping overhaul strategy to stem declining sales.

On the other end, insurance firm Swiss Re fell 1.6% after the insurance firm lowered its full-year earnings target after increasing its U.S. liability reserves. It also said it expects losses of less than $300 million from Hurricane Milton, the fatal storm that hit Florida last month.

— Karen Gilchrist

European stocks open slightly higher

European markets opened moderately higher Thursday.

The pan-European Stoxx 600 was up 0.19% in early deals, with sectors and major bourses diverging. Telecoms stocks led gains, up 0.88%, while household goods ticked 0.48% lower.

The U.K.'s FTSE 100 index was down 0.11% at 8,021, Germany's DAX was 0.42% higher at 19,085, France's CAC was up 0.08% at 7,222 and Italy's FTSE MIB was 0.44% higher at 33,852.

— Karen Gilchrist

Burberry launches strategic overhaul as sales continue to fall

Burberry reported a 20% fall in second-quarter sales on Thursday and announced a sweeping strategic overhaul as the British luxury fashion house seeks to revive its ailing fortunes.

Sales declined at a similar pace to the first quarter, but grew more pronounced in the Asia Pacific region —and particularly in China — the interim results showed. Total revenue came in at £1.08 billion ($1.36 billion) for the first half to Sept. 28.

The company suspended its dividend for 2025, announced a cost-saving program designed to "unlock" £40 million a year, and outlined a major strategy overhaul, which new CEO Joshua Schulman said would return the brand to its origins.

"Our recent underperformance has stemmed from several factors, including inconsistent brand execution and a lack of focus on our core outerwear category and our core customer segments. Today, we are acting with urgency to course correct, stabilise the business and position Burberry for a return to sustainable, profitable growth," Schulman said in the earnings release.

The overhaul follows a difficult period for the luxury fashion house, whose share price has suffered a precipitous decline over recent months as the brand has fallen out of favor with consumers amid a wider slowdown in the luxury market.

The personal luxury goods market is forecast to shrink 2% this year, research from Bain & Company showed Wednesday. It marks the sector's first contraction since the Global Financial Crisis, barring the Covid-19 lockdown period.

— Karen Gilchrist

Geopolitical risks weigh on Siemens' outlook as profit falls at its industrial unit

German technology group Siemens on Thursday reported a fall in fourth-quarter profits and lowered its sales outlook for 2025, pointing to geopolitical uncertainty including trade conflicts.

Profits in its industrial business fell 7% to 3.12 billion euros ($3.29 billion) in the three months to September. Fourth quarter net income for the group as a whole rose 11% year-on-year to 2.11 billion euros.

"We anticipate moderate macroeconomic growth in fiscal 2025, due in part to continuing geopolitical uncertainty including trade conflicts, and also to ongoing challenges for the manufacturing sector due to overcapacity and weak consumer demand," the company said in its earnings release.

"At the same time, infrastructure markets, particularly in electrification and mobility, remain strong."

The group reduced its outlook for comparable revenue growth for the next fiscal year to a range of 3% to 7%, from an earlier range of 4% to 8%.

— Karen Gilchrist

CNBC Pro: Wealth manager sends 'bond vigilante' warning — and reveals his stock picks

As investors mull over how to play the market following the U.S. election result, Sanders Morris' George Bull reveals what he is looking out for right now.

"The postelection rally was frenetic and may have been too much too soon. But, it did show that investors have confidence that the business community and earnings will be strong under a [Donald] Trump administration," the chairman at the U.S.-headquartered wealth management firm said.

However, he warned that there was "schizophrenia" in the bond market, which could "fuel indecision and some correction" in the stock markets. Stocks are often rattled when Treasury yields surge, particularly growth stocks as higher yields can hurt their expected future earnings.

Against this backdrop, the wealth manager revealed where - and how - he is playing the market.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

Trump tariffs would warrant increased stimulus from Beijing, UBS economist says

Beijing will need to roll out more stimulus measures if President-elect Donald Trump levies more tariffs on China, said Paul Donovan, chief economist at UBS Global Wealth Management. 

Speaking on CNBC's "Squawk Box Asia," Donovan said that the stimulus measures China has enacted in recent months have been very supportive for the property market but have not translated into consumer demand. 

"I hope we will see, in the event of an escalation of the trade conflict, more targeted measures in China aimed specifically at boosting domestic consumer spending, which means raising domestic confidence," he added.

— Dylan Butts

Bitcoin tops $90,000

Bitcoin extended its postelection rally Wednesday, breaking above $90,000. The flagship cryptocurrency was last up 1% at $90,796.

— Fred Imbert

CNBC Pro: This 145-year-old British engineering firm is set to benefit from an onshoring and automation trend — with analysts giving the stock 60% upside

A 145-year-old British industrial company is positioned to capitalize on major trends, including the reshoring of manufacturing and increased defense spending, according to analysts at Shore Capital.

U.S. President-elect Donald Trump has threatened to apply 10% import duties on products brought into the U.S., with imports from China potentially facing additional duties of up to 60%.

However, this U.K.-listed company runs two factories each in the United States, United Kingdom, and Australia and could potentially avoid Trump's trade tariffs.

CNBC Pro subscribers can read more about the stock here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are expected to open positive territory Wednesday.

The U.K.'s FTSE 100 index is expected to open 36 points higher at 8,056, Germany's DAX up 38 points at 19,081, France's CAC up 11 points at 7,356 and Italy's FTSE MIB up 68 points at 33,335, according to data from IG.

Earnings will come from ABN Amro, RWE, SSE, Alstom, Siemens Energy, Allianz and Telecom Italia.

— Holly Ellyatt