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European stocks opened higher Thursday morning as economic data give more emphasis to a US rate hike and market liquidity is scarce due to the Thanksgiving holiday.

The pan-European Stoxx 600 started Thursday's trading 0.3 percent higher.

Thyssenkrupp misses forecasts

Data released Wednesday showed new manufacturing orders and consumer sentiment increasing in the US in the month of October, giving further reasons for a rate hike next month, when the Federal Reserve meets.

The British-Australian Rio Tinto announced Thursday plans to raise its cash flow by USD 5 billion over the next five years. The firm wants to expand on iron ore, copper and bauxite.

The German company Thyssenkrupp reported a smaller-than-expected increase in operating profit Thursday and highlighted more cost cutting.

Oil prices were flat during Thursday's morning session with investors uncertain over whether OPEC countries will agree on a production cut when they meet next week.

In terms of data, the German Ifo Institute is releasing its latest business climate analysis at 9 a.m. London time and the European Central Bank is publishing its Financial Stability Review. Public sector workers are staging a 24- hour strike in Greece against austerity measures.