Investing.com - European stocks opened higher on Monday, as market recovered from the European Central Bank's most recent policy statement and as investors continued to track the advancement of Hurricane Irma in the U.S.
During European morning trade, the EURO STOXX 50 jumped 0.91%, France’s CAC 40 climbed 0.91%, while Germany’s DAX 30 advanced 0.71% by 03:45 a.m. ET (07:45 GMT).
European equities had dropped after the ECB signaled last Thursday that information on the tapering of the central bank's asset-purchase program would be delivered in October.
Meanwhile, markets monitored the advancement of Hurricane Irma, which pummeled Florida over the weekend after devastating much of the Caribbean.
Market participants had been worried about a potential North Korean missile test on Saturday, to mark the anniversary of the founding of the nation.
However, Pyongyang chose to observe the 69th anniversary of its founding by only honoring the scientists behind the massive nuclear test it conducted last week.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) gained 0.53% and Societe Generale (PA:SOGN) rallied 1% and 1.04%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) jumped 1.23% and 1.19%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) advanced 0.68% and 1.61% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) climbed 1.07% and 1.38%.
Akzo Nobel (AS:AKZO) added to gains, with shares up 0.29%, recovering from losses posted on Friday after the companyissued a profit warning, citing cost inflation and currency headwinds.
In London, FTSE 100 gained 0.49%, boosted by Astrazeneca (LON:AZN), whose shares surged 2.76% after the pharmaceutical company on Monday reported positive results from two trials for lung cancer treatments.
Financial stocks were also on the upside, as Barclays (LON:BARC) inched up 0.03% and HSBC Holdings (LON:HSBA) rose 0.26%, while Lloyds Banking (LON:LLOY) gained 0.41% and the Royal Bank of Scotland (LON:RBS) jumped 1%.
British Land Company PLC (LON:BLND) was one of the top performers on the index, with shares advancing 1.75% after analysts at Deutsche Bank upgraded their rating on the stock to “buy”.
In the mining sector, stocks were mostly lower. Shares in BHP Billiton (LON:BLT) edged down 0.10% and Rio Tinto (LON:RIO) lost 1.40%, while Randgold Resources (LON:RRS) and Fresnillo (LON:FRES) tumbled 1.54% and 1.79% respectively.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.55% gain, S&P 500 futures signaled a 0.52% climb, while the Nasdaq 100 futures indicated a 0.61% increase.