European stocks edge up after results, US data

European stocks were slightly higher in early afternoon trade on Thursday, after earnings from Goldman Sachs beat forecasts, but with initial U.S. weekly jobless claims rising.

At 1356 GMT, the FTSEurofirst 300 index of top European shares was up 0.1 percent at 1,053.25 points, after falling to as low as 1,048.41 points, a level not seen since Jan. 4. But the index had also gone as high as 1,058.55.

Goldman Sachs Group Inc posted profit ahead of analyst forecasts.

"The numbers are being well received … Goldman Sachs is a big deal for the financial sector and the whole market," said Peter Cardillo, chief market economist at Avalon Partners, New York.

The number of U.S. workers filing new applications for unemployment insurance unexpectedly rose last week as claims delayed from the year-end holidays were pushed through, government data showed.

Drugmakers were among the strongest performers, with AstraZeneca up 2.6 percent after an upgrade at Morgan Stanley, which upped target prices across the sector., Novartis, Shire, and Sanofi-Aventis rose between 0.4 and 1.5 percent.

Miners featured among the biggest losers, with Anglo American down 2.6 percent and Rio Tinto down 2.4 percent as strong Chinese growth figures rekindled concerns over a potential monetary tightening.

Across Europe, Britain's FTSE 100, France's CAC 40 and Germany's DAX were up between 0.1 and 0.4 percent.

Futures for the Dow Jones, S&P 500 and Nasdaq were all down 0.1 percent.