European stocks extended their gains on Thursday amid strong GDP data and favorable corporate results. The Euro STOXX 50 added nearly 1% to 6,300 and the STOXX Europe 600 gained 0.7% to 649. The Eurozone GDP expanded by 0.4% in the second quarter, firmly above market expectations of 0.2% to reflect some resilience to soaring energy prices and sovereign yields in the period. Still, economic optimism was buffered by elevated EU-harmonized inflation rates, with pickups across Spain and Germany. Schneider Electric surged 9% after raising its full-year targets. BBVA climbed 3.5% after reporting an 11.4% increase in net profit. Also, ING rose more than 4% after posing their results, lifting other banks. Other banks also rallied. On top of that, Ferrari maintained its slight gains after raising its guidance. On the downside, Adidas slumped more than 16% after its heavy marketing campaigns around the FIFA World Cup triggered a surge in outlays.