Investing.com – European stocks advanced on Tuesday, as markets shrugged off news that Portugal’s sovereign credit rating was put on review, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 surged 0.73%; France’s CAC 40 climbed 0.62%; while Germany's DAX added 0.61%.
Markets took in stride news that ratings agency Moody’s placed Portugal’s A1 sovereign credit rating on review for possible downgrade.
Earlier in the day, Chinese Vice Premier Wang Qishan said that China supported the measures taken by the EU and the International Monetary Fund to bail out certain European countries and stabilize the financial markets.
In the financial sector shares were broadly higher. Italy’s largest lender Unicredit saw shares jump 2.19%, shares in Spain’s second largest bank BBVA surged 1.67%, while shares in the Royal Bank of Scotland soared 2.34%.
Meanwhile, shares in the world’s largest maker of vitamins Royal DSM jumped 1.34% after it agreed to acquire Martek Biosciences, a U.S. maker of nutritional ingredients for baby food, for approximately USD 1.09 billion.
Elsewhere, shares in luxury automaker Rolls Royce jumped 2.04% after the stock was upgraded by Citigroup. Within the sector, shares in Europe’s largest automaker Volkswagen gained 1.11%, while Renault saw shares climb 1.32%.
In London, the commodity-heavy FTSE 100 added 0.68% as miners led gains after metal prices advanced. Shares in the world’s third largest mining group Rio Tinto jumped 2.13%, silver producer Fresnillo saw shares rally 3.46%, while copper producer Xstrata saw shares surge 2.37% after copper prices rose to a 31-month high.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from the world’s largest cruise vacation company Carnival Corporation and from athletic apparel giant Nike.
The Dow Jones Industrial Average futures pointed to a gain of 0.33%, S&P 500 futures indicated a rise of 0.36% and Nasdaq 100 futures pointed to an increase of 0.25%.
Earlier in the day, data showed that the Gfk index of German consumer confidence slipped slightly lower in December, following a substantial rise the previous month.
During European morning trade, the EURO STOXX 50 surged 0.73%; France’s CAC 40 climbed 0.62%; while Germany's DAX added 0.61%.
Markets took in stride news that ratings agency Moody’s placed Portugal’s A1 sovereign credit rating on review for possible downgrade.
Earlier in the day, Chinese Vice Premier Wang Qishan said that China supported the measures taken by the EU and the International Monetary Fund to bail out certain European countries and stabilize the financial markets.
In the financial sector shares were broadly higher. Italy’s largest lender Unicredit saw shares jump 2.19%, shares in Spain’s second largest bank BBVA surged 1.67%, while shares in the Royal Bank of Scotland soared 2.34%.
Meanwhile, shares in the world’s largest maker of vitamins Royal DSM jumped 1.34% after it agreed to acquire Martek Biosciences, a U.S. maker of nutritional ingredients for baby food, for approximately USD 1.09 billion.
Elsewhere, shares in luxury automaker Rolls Royce jumped 2.04% after the stock was upgraded by Citigroup. Within the sector, shares in Europe’s largest automaker Volkswagen gained 1.11%, while Renault saw shares climb 1.32%.
In London, the commodity-heavy FTSE 100 added 0.68% as miners led gains after metal prices advanced. Shares in the world’s third largest mining group Rio Tinto jumped 2.13%, silver producer Fresnillo saw shares rally 3.46%, while copper producer Xstrata saw shares surge 2.37% after copper prices rose to a 31-month high.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from the world’s largest cruise vacation company Carnival Corporation and from athletic apparel giant Nike.
The Dow Jones Industrial Average futures pointed to a gain of 0.33%, S&P 500 futures indicated a rise of 0.36% and Nasdaq 100 futures pointed to an increase of 0.25%.
Earlier in the day, data showed that the Gfk index of German consumer confidence slipped slightly lower in December, following a substantial rise the previous month.