Investing.com - European stocks were higher on Monday, as hopes for progress on the euro zone front mildly supported market sentiment, although global growth concerns continued to weigh.
During European morning trade, the EURO STOXX 50 rose 0.34%, France’s CAC 40 edged up 0.09%, while Germany’s DAX 30 climbed 0.42%.
Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, as the country attempts to break an ongoing political deadlock.
In addition, Spanish Finance Minister Luis de Guindos said over the weekend that his country would be looking to balance growth, austerity and deficit reduction in its budget plans to be announced this week.
Spain is currently in talks with European officials to relax its deficit targets for this year as well.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.69% and 2.30%, while Germany's Deutsche Bank rallied 1.56%.
Peripheral lenders added to gains, with Spanish banks Banco Santander and BBVA climbing 0.76% and 0.88%, while Italy's Intesa Sanpaolo and Unicredit surged 2.78% and 3.09% respectively.
Elsewhere, food retailer Delhaize soared 8.26% after first-quarter preliminary results showed earnings at about EUR214 million, up 13% from the same time last year.
On the downside, Philips plummeted 2.82% after reporting first-quarter profit that missed analysts’ estimates.
In London, FTSE 100 gained 0.45%, as U.K. lenders tracked their European counterparts higher.
Shares in HSBC Holdings jumped 1.12% and the Royal Bank of Scotland rallied 2.34%, while Barclays and Lloyds Banking surged 2.46% and 2.67%.
Mining stocks were also on the upside, with BHP Billiton and Rio Tinto adding 0.03% and 0.33% respectively, while Rangold Resources advanced 2.81%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.42% gain, S&P 500 futures signaled a 0.48% rise, while the Nasdaq 100 futures indicated a 0.57% increase.
Later in the day, the euro zone was to release a report on consumer confidence, while the U.S. was to release private sector data on existing home sales.
During European morning trade, the EURO STOXX 50 rose 0.34%, France’s CAC 40 edged up 0.09%, while Germany’s DAX 30 climbed 0.42%.
Sentiment found some support after Italy re-elected President Giorgio Napolitano on Saturday, as the country attempts to break an ongoing political deadlock.
In addition, Spanish Finance Minister Luis de Guindos said over the weekend that his country would be looking to balance growth, austerity and deficit reduction in its budget plans to be announced this week.
Spain is currently in talks with European officials to relax its deficit targets for this year as well.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.69% and 2.30%, while Germany's Deutsche Bank rallied 1.56%.
Peripheral lenders added to gains, with Spanish banks Banco Santander and BBVA climbing 0.76% and 0.88%, while Italy's Intesa Sanpaolo and Unicredit surged 2.78% and 3.09% respectively.
Elsewhere, food retailer Delhaize soared 8.26% after first-quarter preliminary results showed earnings at about EUR214 million, up 13% from the same time last year.
On the downside, Philips plummeted 2.82% after reporting first-quarter profit that missed analysts’ estimates.
In London, FTSE 100 gained 0.45%, as U.K. lenders tracked their European counterparts higher.
Shares in HSBC Holdings jumped 1.12% and the Royal Bank of Scotland rallied 2.34%, while Barclays and Lloyds Banking surged 2.46% and 2.67%.
Mining stocks were also on the upside, with BHP Billiton and Rio Tinto adding 0.03% and 0.33% respectively, while Rangold Resources advanced 2.81%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.42% gain, S&P 500 futures signaled a 0.48% rise, while the Nasdaq 100 futures indicated a 0.57% increase.
Later in the day, the euro zone was to release a report on consumer confidence, while the U.S. was to release private sector data on existing home sales.