Investing.com – European stock markets were sharply higher on Monday, as fears over Japan’s nuclear crisis eased and shares in the telecom sector performed strongly, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 surged 1.75%, France’s CAC 40 jumped 1.8%, while Germany's DAX 30 rallied 1.8%.
Earlier in the day, the operator of the stricken Fukushima nuclear power plant, Tokyo Electric Power Co. said some reactors had been reconnected to the power grid, while U.S. Energy Secretary Steven Chu said on Sunday that the Obama administration believed the worst of the crisis was over.
Meanwhile, shares in Deutsche Telekom soared 12.2% after it agreed to sell its T-Mobile USA unit to the largest U.S. mobile phone company, AT&T in a deal valued at nearly USD39 billion. HSBC Holdings upgraded the stock to ‘overweight’ following the announcement.
Across the sector, France Telecom saw shares jump 3.1%, while shares in Vodafone surged 4.2%.
Elsewhere, shares in oil producers were broadly higher as oil prices jumped after coalition forces launched airstrikes in Libya. Shares in Repsol climbed 2.35%, TOTAL gained 1.65%, while British Petroleum was up 1.3%.
Also Monday, shares in financial service provider ING Groep climbed 2.75% after General Electric had expressed an interest in buying its U.S. banking unit, ING Direct USA.
German automaker Daimler saw shares rise 1.4% after the Royal Bank of Scotland recommended buying the stock and raised its price target by 13% to EUR80.
In London, the FTSE 100 climbed 1.1% as shares in raw material companies led gains after metal prices advanced. Mining giant Rio Tinto saw shares jump 1.85%, copper producer Xstrata saw shares gain 1.8%, while silver producer Fresnillo saw shares add 1.1%.
Meanwhile, the second largest U.K. homebuilder, Taylor Wimpey saw shares climb 3.2% after Credit Suisse upgraded the stock to ‘outperform’.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.55%, S&P 500 futures indicated a gain of 0.75%, while the Nasdaq 100 futures added 0.47%.
Later in the day, European Central Bank head Jean-Claude Trichet was to speak at a public engagement, while the U.S. was to publish a report on existing home sales.
During European morning trade, the EURO STOXX 50 surged 1.75%, France’s CAC 40 jumped 1.8%, while Germany's DAX 30 rallied 1.8%.
Earlier in the day, the operator of the stricken Fukushima nuclear power plant, Tokyo Electric Power Co. said some reactors had been reconnected to the power grid, while U.S. Energy Secretary Steven Chu said on Sunday that the Obama administration believed the worst of the crisis was over.
Meanwhile, shares in Deutsche Telekom soared 12.2% after it agreed to sell its T-Mobile USA unit to the largest U.S. mobile phone company, AT&T in a deal valued at nearly USD39 billion. HSBC Holdings upgraded the stock to ‘overweight’ following the announcement.
Across the sector, France Telecom saw shares jump 3.1%, while shares in Vodafone surged 4.2%.
Elsewhere, shares in oil producers were broadly higher as oil prices jumped after coalition forces launched airstrikes in Libya. Shares in Repsol climbed 2.35%, TOTAL gained 1.65%, while British Petroleum was up 1.3%.
Also Monday, shares in financial service provider ING Groep climbed 2.75% after General Electric had expressed an interest in buying its U.S. banking unit, ING Direct USA.
German automaker Daimler saw shares rise 1.4% after the Royal Bank of Scotland recommended buying the stock and raised its price target by 13% to EUR80.
In London, the FTSE 100 climbed 1.1% as shares in raw material companies led gains after metal prices advanced. Mining giant Rio Tinto saw shares jump 1.85%, copper producer Xstrata saw shares gain 1.8%, while silver producer Fresnillo saw shares add 1.1%.
Meanwhile, the second largest U.K. homebuilder, Taylor Wimpey saw shares climb 3.2% after Credit Suisse upgraded the stock to ‘outperform’.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.55%, S&P 500 futures indicated a gain of 0.75%, while the Nasdaq 100 futures added 0.47%.
Later in the day, European Central Bank head Jean-Claude Trichet was to speak at a public engagement, while the U.S. was to publish a report on existing home sales.