Investing.com – European stock markets were broadly higher on Thursday, ahead of an EU summit to discuss the euro zone debt crisis, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 gained 0.52%, France’s CAC 40 added 0.4%, while Germany's DAX 30 climbed 0.65%.
Shares in the financial sector were mixed after Portugal’s parliament rejected a fresh round of budget cuts proposed by Prime Minister Jose Socrates, who immediately tendered his resignation late Wednesday.
Deutsche Bank and BNP Paribas saw shares climb 1.4% and 1% respectively, while Spain’s largest lender Banco Santander slumped 1.2% and BBVA dropped 1.4% after Moody’s downgraded Spain’s banking sector.
Later in the day, European Union leaders were to meet in Brussels for a 2-day summit to discuss the next step in dealing with the euro zone’s debt crisis.
Meanwhile, shares in Europe’s largest cement manufacturer Lafarge added 1.2% amid expectations rebuilding efforts to Japan would boost revenue. Shares in rival CRH jumped 2.1%.
Germany’s largest chemical producer BASF saw shares rise 2.05% after it said that it expected first quarter earnings to be significantly higher this year than the same period a year earlier.
In London, the commodity-heavy FTSE 100 climbed 0.8% as shares in raw material companies led gains after metal prices advanced.
Mining giant BHP Billiton saw shares jump 1.05%, shares in rival Rio Tinto added 1.35%, while copper producer Xstrata saw shares rise 1.2%.
Oil and gas giant British Petroleum saw shares climb 2% as crude oil prices spiked past USD106 a barrel, the highest price since September 2008, amid ongoing turmoil in the Middle East.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.35%, S&P 500 futures indicated a gain of 0.45%, while the Nasdaq 100 futures added 0.7%.
Later in the day, the U.S. was to publish official data on durable goods orders as well as a report on initial jobless claims.
During European morning trade, the EURO STOXX 50 gained 0.52%, France’s CAC 40 added 0.4%, while Germany's DAX 30 climbed 0.65%.
Shares in the financial sector were mixed after Portugal’s parliament rejected a fresh round of budget cuts proposed by Prime Minister Jose Socrates, who immediately tendered his resignation late Wednesday.
Deutsche Bank and BNP Paribas saw shares climb 1.4% and 1% respectively, while Spain’s largest lender Banco Santander slumped 1.2% and BBVA dropped 1.4% after Moody’s downgraded Spain’s banking sector.
Later in the day, European Union leaders were to meet in Brussels for a 2-day summit to discuss the next step in dealing with the euro zone’s debt crisis.
Meanwhile, shares in Europe’s largest cement manufacturer Lafarge added 1.2% amid expectations rebuilding efforts to Japan would boost revenue. Shares in rival CRH jumped 2.1%.
Germany’s largest chemical producer BASF saw shares rise 2.05% after it said that it expected first quarter earnings to be significantly higher this year than the same period a year earlier.
In London, the commodity-heavy FTSE 100 climbed 0.8% as shares in raw material companies led gains after metal prices advanced.
Mining giant BHP Billiton saw shares jump 1.05%, shares in rival Rio Tinto added 1.35%, while copper producer Xstrata saw shares rise 1.2%.
Oil and gas giant British Petroleum saw shares climb 2% as crude oil prices spiked past USD106 a barrel, the highest price since September 2008, amid ongoing turmoil in the Middle East.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a rise of 0.35%, S&P 500 futures indicated a gain of 0.45%, while the Nasdaq 100 futures added 0.7%.
Later in the day, the U.S. was to publish official data on durable goods orders as well as a report on initial jobless claims.