Investing.com – European stock markets were up on Monday, led by miners in the wake of upbeat U.S. economic data last week and amid efforts to secure a rescue package for debt-laden Greece.
During early European trade, France’s CAC 40 was up 1.21%; Britain's FTSE 100 rose 0.77%; the EURO STOXX 50 was up 1.13%. Germany's DAX hit a 19-month high at 6334.74, its highest since Sept. 8, 2008; the index subsequently consolidated around 6325.5, up 1.05%.
Mining stocks were among the top performers, with Antofagasta advancing 4.88% and BHP Billiton Ltd. gaining 1.71% in London.
Meanwhile, German Finance Minister Wolfgang Schaeuble said on Monday that it may be possible for Germany to finalize a law granting Greece financial aid on May 7, Reuters reported. As Europe's largest economy, Germany is expected to be responsible for providing EUR 8.4 billion as part of the bailout package, a deeply unpopular move in the country.
The outlook for U.S. markets, meanwhile, was also quite rosy: Dow Jones Industrial Average futures indicated a rise of 0.13%, S&P 500 Index futures pointed to an increase of 0.05% and Nasdaq 100 Index futures indicated a gain of 0.09%.
Later in the day, the president of the European Central Bank, Jean-Claude Trichet, was due to deliver a speech at the Council on Foreign Relations, a think tank, in New York. Traders are likely to scrutinize his comments for clues to future shifts in monetary policy and references to Greece's debt crisis.
During early European trade, France’s CAC 40 was up 1.21%; Britain's FTSE 100 rose 0.77%; the EURO STOXX 50 was up 1.13%. Germany's DAX hit a 19-month high at 6334.74, its highest since Sept. 8, 2008; the index subsequently consolidated around 6325.5, up 1.05%.
Mining stocks were among the top performers, with Antofagasta advancing 4.88% and BHP Billiton Ltd. gaining 1.71% in London.
Meanwhile, German Finance Minister Wolfgang Schaeuble said on Monday that it may be possible for Germany to finalize a law granting Greece financial aid on May 7, Reuters reported. As Europe's largest economy, Germany is expected to be responsible for providing EUR 8.4 billion as part of the bailout package, a deeply unpopular move in the country.
The outlook for U.S. markets, meanwhile, was also quite rosy: Dow Jones Industrial Average futures indicated a rise of 0.13%, S&P 500 Index futures pointed to an increase of 0.05% and Nasdaq 100 Index futures indicated a gain of 0.09%.
Later in the day, the president of the European Central Bank, Jean-Claude Trichet, was due to deliver a speech at the Council on Foreign Relations, a think tank, in New York. Traders are likely to scrutinize his comments for clues to future shifts in monetary policy and references to Greece's debt crisis.