Investing.com - European stocks rallied Tuesday on expectation meeting earnings from Alcoa, positive French production numbers and hope for Chinese monetary policy easing.
After the close of European trade, the EURO STOXX 50 gained 2.67%, France's CAC 40 soared 2.66%, while Germany's DAX 30 closed higher by 2.42%. Meanwhile, in the U.K. the FTSE 100 advanced 1.50%.
The buying was triggered by Alcoa kicking off the U.S. earnings season by meeting expectations and leading miners higher.
German Chancellor Angela Merkel met with French President, Nicolas Sarkozy in Berlin to hash out new fiscal discipline rules for the euro zone's fiscal compact negotiated at a December 9th meeting. The leaders plan on having the new budget rules by January, 30th. One month ahead of schedule.
China reported lowered import numbers sparking speculation of monetary easing adding to the bullish fervor of the session.
Robert Buckland of Citigroup told Bloomberg, "Most investors look forward to 2012 with a sense of cautious optimism that things will be brighter. Despite the obvious macro headwinds, global corporate earnings and cash flow continue to grow at a solid rate."
Meanwhile, France reported positive production numbers easing euro zone slow down concerns.
Miners led the region's stocks higher with BHP Billiton adding 3.4%, Rio Tinto moving higher by 3.6% and Xstrata advancing 3.1%
Carmakers also participated in the rally with BMW adding 3.3%. Volkswagen climbing 3.2% and Daimler soaring 4.2%
Even retailers took part in the bullish sentiment with Debenhams surging 9% after reporting sales that beat analysts estimates.
Swiss watch maker, Swatch, added 2.9% upon posting record revenue in 20ll and a 22% increase in gross sales.
In bearish news, Royal Phillips Electronics, the world's biggest maker of light bulbs, fell 4.7% after reporting a 45% plunge in fourth quarter earnings.
U.S. stocks traded higher across the board in midday trading with the Dow Jones Industrial Average advancing 0.70%, the S&P 500 gaining 0.96% and the Nasdaq 100 moving higher by 0.92%.
Investors are awaiting UK trade balance and euro zone GDP on Wednesday.
After the close of European trade, the EURO STOXX 50 gained 2.67%, France's CAC 40 soared 2.66%, while Germany's DAX 30 closed higher by 2.42%. Meanwhile, in the U.K. the FTSE 100 advanced 1.50%.
The buying was triggered by Alcoa kicking off the U.S. earnings season by meeting expectations and leading miners higher.
German Chancellor Angela Merkel met with French President, Nicolas Sarkozy in Berlin to hash out new fiscal discipline rules for the euro zone's fiscal compact negotiated at a December 9th meeting. The leaders plan on having the new budget rules by January, 30th. One month ahead of schedule.
China reported lowered import numbers sparking speculation of monetary easing adding to the bullish fervor of the session.
Robert Buckland of Citigroup told Bloomberg, "Most investors look forward to 2012 with a sense of cautious optimism that things will be brighter. Despite the obvious macro headwinds, global corporate earnings and cash flow continue to grow at a solid rate."
Meanwhile, France reported positive production numbers easing euro zone slow down concerns.
Miners led the region's stocks higher with BHP Billiton adding 3.4%, Rio Tinto moving higher by 3.6% and Xstrata advancing 3.1%
Carmakers also participated in the rally with BMW adding 3.3%. Volkswagen climbing 3.2% and Daimler soaring 4.2%
Even retailers took part in the bullish sentiment with Debenhams surging 9% after reporting sales that beat analysts estimates.
Swiss watch maker, Swatch, added 2.9% upon posting record revenue in 20ll and a 22% increase in gross sales.
In bearish news, Royal Phillips Electronics, the world's biggest maker of light bulbs, fell 4.7% after reporting a 45% plunge in fourth quarter earnings.
U.S. stocks traded higher across the board in midday trading with the Dow Jones Industrial Average advancing 0.70%, the S&P 500 gaining 0.96% and the Nasdaq 100 moving higher by 0.92%.
Investors are awaiting UK trade balance and euro zone GDP on Wednesday.