Investing.com - European stocks were higher on Monday, after the release of upbeat German and French data and as investors eyed the release of euro zone manufacturing and service sector activity data due later in the trading session.
During European morning trade, the EURO STOXX 50 jumped 0.94%, France’s CAC 40 climbed 0.81%, while Germany’s DAX 30 advanced 0.83%.
Research group Markit said its German manufacturing purchasing managers’ index rose to 55.1 in October from 54.3 the previous month, beating expectations for an unchanged reading.
The German services PMI climbed to 54.1 this month from 50.9, compared to expectations for an uptick to 51.5.
Markit also said its French manufacturing PMI rose to 51.3 in October from 49.7 the previous month, exceeding expectations for a reading of 50.0.
However, the French services PMI slipped to 52.1 this month from 53.3, compared to expectations for a fall to 53.0.
European equities also remained supported after European Central Bank President Mario Draghi indicated last week that the bank may extend its stimulus program in December.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) jumped 1.39% and 2.29%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) gained 1.10% and 2.23%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) rallied 1.61% and 1.58% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) surged 2.10% and 2.66%.
Elsewhere, E.ON SE (DE:EONGn) advanced 1.28% after the German company announced late last week that it has signed a major power purchase agreement with healthcare giant Johnson & Johnson (NYSE:JNJ) to provide wind power from its 200MW wind farm at Colbeck's Corner in the Texas Panhandle.
Mediaset (MI:MS) shares climbed 0.84% even after saying last week that Vivendi (PA:VIV) had told it in a letter that an interim management accord over its pay-TV unit no longer stood, prompting the Italian broadcaster to blame the French media group for paralyzing the unit's operations. Vivendi SA (PA:VIV) shares were up 1.07% on Monday morning.
In London, commodity-heavy FTSE 100 gained 0.66%, helped by gains in the mining sector.
Shares in Glencore (LON:GLEN) rallied 1.85% and Rio Tinto (LON:RIO) advanced 2.15%, while BHP Billiton (LON:BLT) surged 2.17%.
Financial stocks were also broadly higher, as HSBC Holdings (LON:HSBA) rose 0.37% and Barclays (LON:BARC) climbed 0.94%, while Lloyds Banking (LON:LLOY) rallied 1.22%. The Royal Bank of Scotland (LON:RBS) underperformed however, with shares sliding 0.24%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.49% increase, S&P 500 futures showed a 0.53% climb, while the Nasdaq 100 futures indicated a 0.59% gain.