European stocks set to open higher; UK GDP figures show economy fell into recession

European stock markets are set to open higher on Thursday as investors analyze U.K. growth figures for the fourth quarter and monitor corporate earnings. The U.K. economy contracted by 0.3% in the final quarter of 2023, pushing the country into a technical recession. Among the firms reporting, Germany’s Commerzbank posted a 55% jump in full-year net profit, and Airbus announced a special dividend of 1 euro per share. The total value invested in bitcoin surpassed $1 trillion, reaching an over two-year high, following the debut of bitcoin exchange-traded funds in the United States last month. The price of ether surpassed $2,700, with investors expecting the greenlight for spot ether ETFs. Bank of America predicts that European semiconductor equipment stocks will outperform as spending on artificial intelligence chips rises. Morgan Stanley has named “alpha” stock ideas for February in the Asia-Pacific region.