Investing.com – European stock markets were broadly higher on Tuesday, as automakers led markets higher, while U.S. futures indexes pointed to an upbeat open on Wall Street.
During European morning trade, the EURO STOXX 50 climbed 0.58%, France’s CAC 40 added 0.65%, while Germany's DAX gained 0.81%.
Shares in automakers performed strongly amid optimism over the global economic recovery.
Europe’s largest carmaker Volkswagen saw shares jump 2.05%, shares in rival BMW rallied 3.2%, while French automaker PSA Peugeot Citroen added 1.6%.
Meanwhile, shares in wine and spirits maker Remy Cointreau surged 2.7% after it said it had entered talks that could lead to the sale of its champagne division to rival EPI.
However, shares in French utility provider GDF Suez slipped 0.75% after UBS downgraded the stock to ‘neutral’.
In London, the commodity-heavy FTSE 100 rose 0.41% after silver producer Fresnillo reported better-than-expected earnings for the 2010 fiscal year.
The company saw shares add 2.3% after it said 2010 net profit soared by 51% to GBP409 million. Revenue jumped 66% to GBP0.86 billion, boosted by record gold and silver production and higher metal prices.
Across the rest of the sector, mining giant Rio Tinto saw shares advance 1.11%, while copper producer Xstrata climbed 1.21%.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.05%, S&P 500 futures indicated a rise of 0.19%, while the Nasdaq 100 futures added 0.11%.
Later in the day, Chairman of the Federal Reserve, Ben Bernanke, was to testify on the semi-annual monetary policy report before the Senate Banking Committee in Washington, while the U.S. Institute for Supply Management was to publish a report on manufacturing activity.
During European morning trade, the EURO STOXX 50 climbed 0.58%, France’s CAC 40 added 0.65%, while Germany's DAX gained 0.81%.
Shares in automakers performed strongly amid optimism over the global economic recovery.
Europe’s largest carmaker Volkswagen saw shares jump 2.05%, shares in rival BMW rallied 3.2%, while French automaker PSA Peugeot Citroen added 1.6%.
Meanwhile, shares in wine and spirits maker Remy Cointreau surged 2.7% after it said it had entered talks that could lead to the sale of its champagne division to rival EPI.
However, shares in French utility provider GDF Suez slipped 0.75% after UBS downgraded the stock to ‘neutral’.
In London, the commodity-heavy FTSE 100 rose 0.41% after silver producer Fresnillo reported better-than-expected earnings for the 2010 fiscal year.
The company saw shares add 2.3% after it said 2010 net profit soared by 51% to GBP409 million. Revenue jumped 66% to GBP0.86 billion, boosted by record gold and silver production and higher metal prices.
Across the rest of the sector, mining giant Rio Tinto saw shares advance 1.11%, while copper producer Xstrata climbed 1.21%.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.05%, S&P 500 futures indicated a rise of 0.19%, while the Nasdaq 100 futures added 0.11%.
Later in the day, Chairman of the Federal Reserve, Ben Bernanke, was to testify on the semi-annual monetary policy report before the Senate Banking Committee in Washington, while the U.S. Institute for Supply Management was to publish a report on manufacturing activity.