Investing.com – European stock markets were broadly higher on Tuesday, rebounding from a ten-week low as shares in the financial sector led gains, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 rose 0.5%, France’s CAC 40 gained 0.45%, while Germany's DAX 30 climbed 0.7%.
Concerns over Greek sovereign debt eased after European Central Bank President Jean-Claude Trichet indicated his willingness to sanction bond rollovers in Greece.
Meanwhile, German Chancellor Angela Merkel told U.S. President Barack Obama that the euro zone will “emerge strengthened” from the crisis, when the two leaders met on Monday.
Lenders, many of which have exposure to Greek debt, were broadly higher. Societe Generale saw shares climb 1.3%, Deutsche Bank gained 1%, while Italian banking giant Unicredit saw shares rise 1.2%.
France’s third largest bank Credit Agricole saw shares jump 1.6% after Nomura Holdings raised its rating on the stock to ‘buy’, saying worries over the bank’s capital and sovereign debt exposure have left it oversold.
Shares in Norwegian solar-energy wafer manufacturer Renewable Energy Corporation surged 6.5% after Morgan Stanley upgraded the stock to ‘overweight’. The lender said the “reaction to the recent profit warning and weakness in wafer pricing has been excessively negative.”
In other broker news, French telecommunications firm Eutelsat Communications rose 2.4%, while Sky Deutschland rallied 4.2% after Goldman Sachs added the stocks to their ‘Conviction Buy’ list.
In London, the FTSE 100 was up 0.3% as shares in life insurance group Resolution jumped 2.65% after it announced plans to repurchase shares worth up to GBP500 million.
Shares in miners also gained as metal prices advanced, boosted by weakness in the U.S. dollar. Copper producer Xstrata climbed 1.5%, BHP Billiton was up 1%, while Rio Tinto added 0.9%.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.45%, S&P 500 futures indicated an increase of 0.5%, while the Nasdaq 100 futures advanced 0.45%.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak. His comments would be closely watched for his views on the U.S. economic recovery.
During European morning trade, the EURO STOXX 50 rose 0.5%, France’s CAC 40 gained 0.45%, while Germany's DAX 30 climbed 0.7%.
Concerns over Greek sovereign debt eased after European Central Bank President Jean-Claude Trichet indicated his willingness to sanction bond rollovers in Greece.
Meanwhile, German Chancellor Angela Merkel told U.S. President Barack Obama that the euro zone will “emerge strengthened” from the crisis, when the two leaders met on Monday.
Lenders, many of which have exposure to Greek debt, were broadly higher. Societe Generale saw shares climb 1.3%, Deutsche Bank gained 1%, while Italian banking giant Unicredit saw shares rise 1.2%.
France’s third largest bank Credit Agricole saw shares jump 1.6% after Nomura Holdings raised its rating on the stock to ‘buy’, saying worries over the bank’s capital and sovereign debt exposure have left it oversold.
Shares in Norwegian solar-energy wafer manufacturer Renewable Energy Corporation surged 6.5% after Morgan Stanley upgraded the stock to ‘overweight’. The lender said the “reaction to the recent profit warning and weakness in wafer pricing has been excessively negative.”
In other broker news, French telecommunications firm Eutelsat Communications rose 2.4%, while Sky Deutschland rallied 4.2% after Goldman Sachs added the stocks to their ‘Conviction Buy’ list.
In London, the FTSE 100 was up 0.3% as shares in life insurance group Resolution jumped 2.65% after it announced plans to repurchase shares worth up to GBP500 million.
Shares in miners also gained as metal prices advanced, boosted by weakness in the U.S. dollar. Copper producer Xstrata climbed 1.5%, BHP Billiton was up 1%, while Rio Tinto added 0.9%.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.45%, S&P 500 futures indicated an increase of 0.5%, while the Nasdaq 100 futures advanced 0.45%.
Later in the day, Federal Reserve Chairman Ben Bernanke was to speak. His comments would be closely watched for his views on the U.S. economic recovery.