We have updated our privacy policy and terms & conditions. Find out more here.

European stocks turn higher on Greece hopes; Dax up 0.16%

Stock MarketsNov 21, 2012 01:23PM GMT Add a Comment
Share with a Friend
Thanks for sharing
Emails have been sent to:
To send more emails click here
Investing.com - European stocks turned slightly higher on Wednesday, amid hopes that an agreement on an aid deal for Greece was close, although concerns continued to weigh.

During European afternoon trade, the EURO STOXX 50 rose 0.35%, France’s CAC 40 added 0.30%, while Germany’s DAX 30 edged up 0.16%.

Market sentiment remained fragil after talks between euro zone finance ministers and the International Monetary Fund concluded on Tuesday without reaching a deal on unlocking Greece’s bailout package, amid disagreements on how best to reduce the country’s debt to sustainable levels.

The head of the eurogroup of finance ministers Jean-Claude Juncker said a deal was close he didn’t know when Athens would receive its next aid installment. The talks are set to continue next Monday.

Financial stocks turned broadly higher, as shares in French lenders BNP Paribas and Societe Generale climbed 1.17% and 0.42%, while Germany's Commerzbank advanced 0.70%.

Peripheral lenders also gained ground with Italian banks Unicredit and Intesa Sanpaolo rising 0.52% and 0.82%, while Spain's BBVA and Banco Santander added 0.16% and 0.71% respectively.

In London, FTSE 100 inched up 0.08%, after the minutes of the Bank of England’s November meeting showed that policymakers were split over more monetary easing, while a separate report showed that U.K. government borrowing rose more-than-expected in October.

U.K. lenders tracked their European counterparts higher, as shares in HSBC Holdings advanced 0.49% and the Royal Bank of Scotland rose 0.57%, while Lloyds Banking and Barclays rallied 0.99% and 1.17% respectively.

Copper producers added to gains, as Xstrata jumped 1.06% and Kazakhmys rose 0.22%.

Meanwhile, mining giants Rio Tinto and BHP Billiton remained on the downside, with shares 1.20% and 0.70%.

Oil and gas major also remained lower, tumbling 1.20%, while rival BP added 0.26%.

Platinum refiner Johnson Matthey dove 6.22%, extending earlier losses, after reporting a six% drop in profits in the first half and saying that it doesn't expect things to pick up in the latter part of the fiscal year.

In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.07% gain, S&P 500 futures signaled a 0.10% rise, while the Nasdaq 100 futures indicated a 0.10% increase.

Later in the day, the U.S. was to release the weekly government report on initial jobless claims. This data was being released one day early ahead of the Thanksgiving holiday on Thursday.

European stocks turn higher on Greece hopes; Dax up 0.16%

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NQ 100
Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.