Investing.com - European stocks rose on Thursday, as market sentiment was boosted after Greek lawmakers passed a second set of crucial reforms, paving the way for the country's third bailout.
During European morning trade, the EURO STOXX 50 gained 0.22%, France’s CAC 40 added 0.23%, while Germany’s DAX 30 rose 0.26%.
A majority of Greek lawmakers voted in favor of a second set of reforms late Wednesday, signalling that negotiations on an €86 billion European Union bailout can begin. The country is aiming for a deal by the middle of next month.
The new measures include changes to Greek banking and an overhaul of the judiciary system.
Greece had passed an initial set of austerity measures imposed by its creditors last week. These were a mix of economic reforms and budget cuts demanded before bailout talks could continue.
Earlier Thursday, data showed that Spain's unemployment rate ticked down to 22.37% in the second quarter from 23.78% in the three months to March. Analysts had expected the unemployment rate to rise to 23.10% in the last quarter.
Financial stocks were broadly higher, as French lenders Societe Generale (PARIS:SOGN) and BNP Paribas (PARIS:BNPP) climbed 0.69% and 0.51%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) advanced 0.67% and 1.17%.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) rallied 1.08% and 1.62% respectively, while Spanish banks Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) gained 0.60% and 0.49%.
Roche Holding (SIX:ROG) added to gains, up 1.53% after the Swiss health-care company reported first-half earnings that beat analysts' projections.
In London, FTSE 100 rose 0.29%, led by Unilever (LONDON:ULVR), whose shares surged 2.05% after the consumer goods company reported better-than-forecast second-quarter sales growth.
Financial stocks were also higher, as Lloyds Banking (LONDON:LLOY) and the Royal Bank of Scotland (LONDON:RBS) added 0.21% and 0.22% respectively, while Barclays (LONDON:BARC) climbed 0.55% and HSBC Holdings (LONDON:HSBA) advanced 0.62%.
Meanwhile, mining stocks were broadly lower as the ongoing weakness in commodity prices continued to weigh. Shares in Rio Tinto (LONDON:RIO) dropped 0.78% and Bhp Billiton (LONDON:BLT) declined 0.82%, while rival Glencore (LONDON:GLEN) tumbled 1.43%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.18% rise, S&P 500 futures signaled a 0.17% gain, while the Nasdaq 100 futures indicated a 0.26% increase.