Investing.com - European stocks were higher on Tuesday, as rising oil prices lifted market sentiment and as investors began to prepare for the European Central Bank’s policy meeting on Thursday.
During European morning trade, the EURO STOXX 50 jumped 1.15%, France’s CAC 40 rallied 1.21%, while Germany’s DAX 30 gained 0.82%.
Energy-related stocks were boosted by a rise in oil prices on Tuesday, as French oil and gas major Total SA (PA:TOTF) jumped 1.34% and Italy’s ENI (MI:ENI) rallied 1.65%, while Russian rival Gazprom (MCX:GAZP) rose 0.22%.
Financial stocks were also broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) advanced 1.81% and 2.22%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) surged 2.25% and 2.19%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) rallied 1.40% and 1.86% respectively, while Spanish banks Banco Santander (MC:SAN) climbed 2.06% and 1.87%.
Elsewhere, Danone SA (PA:DANO) saw shares advance 1.19%, even after reporting third-quarter sales that came in slightly below analyst expectations.
In London, commodity-heavy FTSE 100 gained 0.85%, boosted by sharp gains in the mining sector.
Shares in Glencore (LON:GLEN) climbed 1.65% and Rio Tinto (LON:RIO) jumped 1.95%, while rival company Randgold Resources (LON:RRS) surged 2.05%.
Financial stocks were also broadly higher, as HSBC Holdings (LON:HSBA) rallied 1.04% and Lloyds Banking (LON:LLOY) gained 1.17%, while the Royal Bank of Scotland (LON:RBS) and Barclays (LON:BARC) advanced 1.35% and 1.52% respectively.
On the downside, Burberry Group PLC (LON:BRBY) shares sank 6.42%, even as the luxury goods maker reported a rise in second-quarter retail sales but warned of a challenging external environment.
Ryanair Holdings PLC (LON:RYA) declined 0.68% after cutting its full-year profit forecast by 5% due to the sharp drop in the pound.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.31% rise, S&P 500 futures showed a 0.46% increase, while the Nasdaq 100 futures indicated a 0.51% climb.