Investing.com - European stocks were higher on Wednesday, as upbeat economic reports from Germany continued to support equity markets.
During European morning trade, the EURO STOXX 50 added 0.32%, France’s CAC 40 edged up 0.22%, while Germany’s DAX 30 gained 0.62%.
European equities were boosted on Monday after data showed that German business sentiment improved this month, snapping six successive months of declines.
Data on Tuesday confirmed that Germany narrowly avoided a recession in the third quarter, posting economic growth of 0.1%.
Market sentiment also improved after the Organization for Economic Co-operation and Development said the global economy will gradually improve over the next two years.
The OECD warned however that the euro area is at risk of deflation if growth stagnates or if inflation expectations continue to deteriorate and urged the European Central Bank to embark on quantitative easing measures.
Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) rose 0.39% and 0.65%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) gained 0.55% and 1.07%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit climbed 0.49% and 0.90% respectively, while Spanish banks Banco Santander (MADRID:SAN) and BBVA added 0.15% and 0.43%.
Amadeus IT (MADRID:AMA), Spanish operator of travel booking systems, saw shares tumble 1.47% after Deutsche Bank said it is selling 6.2 million shares in the company.
In London, commodity-heavy FTSE 100 rose 0.37%, led by mining companies.
Shares in Rio Tinto jumped 1.40% and Bhp Billiton rallied 1.80%, while rivals Randgold Resources (LONDON:RRS) and Antofagasta surged 2.21% and 2.32% respectively.
Financial stocks were also on the upside, as HSBC Holdings (LONDON:HSBA) added 0.20% and the Royal Bank of Scotland (LONDON:RBS) gained 0.34%, while Lloyds Banking (LONDON:LLOY) advanced 0.44% and Barclays saw shares climb 0.53%.
HSBC made headlines on Wednesday, as the U.K. lender was being sued, with U.S. counterpart Goldman Sachs, in New York over claims the two banks conspired for eight years to manipulate prices for the precious metals platinum and palladium.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.15% gain, S&P 500 futures signaled a 0.17% rise, while the Nasdaq 100 futures indicated a 0.18% increase.
Later in the day, the U.S. was to release a flurry of data ahead of Thursday’s holiday, including reports on durable goods orders, unemployment claims, personal income and spending, as well as reports on new and pending home sales and revised data on consumer sentiment.