Investing.com - European stock markets inched higher in rangebound trade during European morning hours on Tuesday, as investors awaited the release of the ZEW Institute’s closely watched index of German economic sentiment later in the session.
During European morning trade, the EURO STOXX 50 rose 0.5%, France’s CAC 40 added 0.7%, while Germany’s DAX 30 edged up 0.5%.
Market players positioned themselves in equities ahead of a report which may show German economic sentiment improved to a 33-month high in February.
On Monday, European Central Bank President Mario Draghi said that Europe "entered 2013 in a more stable financial environment than in recent years."
Gains were capped as investors remained wary ahead of the upcoming Italian general elections next week, amid concerns that a hung parliament could hamper ongoing efforts at economic reforms.
In France, yogurt maker Danone saw shares rally 5.3% after the company said it would cut nearly 900 jobs in Europe in response to the region's downturn.
Automakers were under pressure after European car sales fell 8.7% in January. Peugeot saw shares dip 0.5% in Paris while BMW was down 0.6% in Frankfurt.
In London, the FTSE 100 eased up 0.15% in choppy trade.
Lenders were mixed with Royal Bank of Scotland and Lloyds Banking Group up 0.4% and 0.45% respectively, while HSBC Holdings declined 0.55% after Morgan Stanley cut its rating on the stock to ‘equal-weight’.
In earning news, Intercontinental Hotels saw shares fall 1.5% despite announcing full-year results that were slightly ahead of forecasts.
In the U.S., equity markets pointed to a moderately higher open, as markets were set to reopen following Monday’s holiday.
The Dow Jones Industrial Average futures pointed to a 0.1% gain, the S&P 500 futures signaled a 0.1% rise, while the Nasdaq 100 futures indicated a 0.15% advance.
Later in the day, the National Association of Home Builders was to release its Housing Market Index.
During European morning trade, the EURO STOXX 50 rose 0.5%, France’s CAC 40 added 0.7%, while Germany’s DAX 30 edged up 0.5%.
Market players positioned themselves in equities ahead of a report which may show German economic sentiment improved to a 33-month high in February.
On Monday, European Central Bank President Mario Draghi said that Europe "entered 2013 in a more stable financial environment than in recent years."
Gains were capped as investors remained wary ahead of the upcoming Italian general elections next week, amid concerns that a hung parliament could hamper ongoing efforts at economic reforms.
In France, yogurt maker Danone saw shares rally 5.3% after the company said it would cut nearly 900 jobs in Europe in response to the region's downturn.
Automakers were under pressure after European car sales fell 8.7% in January. Peugeot saw shares dip 0.5% in Paris while BMW was down 0.6% in Frankfurt.
In London, the FTSE 100 eased up 0.15% in choppy trade.
Lenders were mixed with Royal Bank of Scotland and Lloyds Banking Group up 0.4% and 0.45% respectively, while HSBC Holdings declined 0.55% after Morgan Stanley cut its rating on the stock to ‘equal-weight’.
In earning news, Intercontinental Hotels saw shares fall 1.5% despite announcing full-year results that were slightly ahead of forecasts.
In the U.S., equity markets pointed to a moderately higher open, as markets were set to reopen following Monday’s holiday.
The Dow Jones Industrial Average futures pointed to a 0.1% gain, the S&P 500 futures signaled a 0.1% rise, while the Nasdaq 100 futures indicated a 0.15% advance.
Later in the day, the National Association of Home Builders was to release its Housing Market Index.