Breaking News

European stocks mostly higher amid U.S. fiscal hopes; Dax up 0.15%

Stock MarketsDec 27, 2012 03:48AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items

Investing.com - European stocks were mostly higher on Thursday, as investors eyed U.S. budget negotiations which were due to resume later in the day.

During European morning trade, the EURO STOXX 50 rose 0.35%, France’s CAC 40 climbed 0.51%, while Germany’s DAX 30 added 0.15%.

Market players remained focused on developments surrounding the fiscal cliff in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1.

President Barack Obama was to end his vacation and return to Washington on Thursday in order to take part in talks to avert the crisis ahead of the year-end deadline. Both chambers of Congress are also due to return to work on Thursday.

Without a deal, the U.S. could fall back into recession and drag much of the world down with it.

Financial stocks were broadly higher, as French lender Societe Generale added 0.07%, while Germany's Deutsche Bank and Commerzbank advanced 0.64% and 0.76%.

Clariant added to gains, with shares rallying 2.98% after the specialty chemicals maker sold units for CHF502 million.

Meanwhile, Vivendi climbed 0.87% as KT Corp., South Korea’s second-largest mobile-phone carrier, submitted a preliminary bid for Vivendi’s stake in Moroccan carrier Maroc Telecom as it aims to expand in Africa.

In London, commodity-heavy FTSE 100 dipped 0.04%, despite sharp gains in oil and mining stocks.

Oil and gas major Anglo American surged 1.34% and mining group Evraz rallied 1.83%, while Rio Tinto and BHP Billiton advanced 1.30% and 1.02% respectively.

Copper producers Xstrata and Kazakhmys were also on the upside, as shares jumped 0.80% and 1.04%.

Elsewhere, financial stocks were mostly higher, as HSBC Holdings added 0.18% and the Royal Bank of Scotland climbed 0.50%, while Lloyds Banking advanced 0.85%. Barclays underperformed on the other hand, dropping 0.40%.

In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.05% dip, S&P 500 futures signaled a 0.06% fall, while the Nasdaq 100 futures indicated a 0.09% loss.

Later in the day, the U.S. was to publish its weekly government report on initial jobless claims, as well as data on new home sales and consumer confidence.

European stocks mostly higher amid U.S. fiscal hopes; Dax up 0.15%

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Please wait a minute before you try to comment again.
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Add Chart to Comment
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email