Investing.com - European stocks were higher on Wednesday, helped by upbeat corporate earnings reports and as markets eyed the release of euro zone service sector data due later in the trading session.
During European morning trade, the EURO STOXX 50 gained 0.79%, France’s CAC 40 rallied 0.92%, while Germany’s DAX 30 climbed 0.87%.
Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) advanced 0.94% and 7%, while Germany's Commerzbank (XETRA:CBKG) and Deutsche Bank (XETRA:DBKGn) rallied 0.63% and 1.04%.
Earlier Wednesday, Societe Generale posted a 25% jump in second quarter net income, beating analysts' estimates, as the bank said it planned to hike its capital buffer.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) climbed 0.84% and 0.70% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) gained 0.41% and 0.52%.
On the downside, ING Groep (AMS:ING) NV, the biggest Dutch lender, tumbled 1.70% even after saying profit increased by 27% in the second quarter.
In London, commodity-heavy FTSE 100 rose 0.30%, boosted by sharp gains in the mining sector.
Shares in Fresnillo (LONDON:FRES) advanced 0.93% and Glencore (LONDON:GLEN) jumped 2.22%, while rivals Rio Tinto (LONDON:RIO) and Bhp Billiton (LONDON:BLT) surged 2.52% and 2.63% respectively.
Also on the upside, Legal & General Group PLC (LONDON:LGEN) rallied 3.63% after the insurer said that operating profit increased by 18% in the first half of its fiscal year, beating analysts' forecasts.
Meanwhile, financial stocks were mixed. Barclays (LONDON:BARC) dipped 0.02% and Lloyds Banking (LONDON:LLOY) slipped 0.18%, while HSBC Holdings (LONDON:HSBA) gained 0.77% and the Royal Bank of Scotland (LONDON:RBS) climbed 0.84%.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.02% uptick, S&P 500 futures signaled a 0.24% gain, while the Nasdaq 100 futures indicated a 0.29% increase.