Investing.com - European stocks moved higher on Friday, as sentiment mildly improved while markets digested recent remarks by U.S. President-elect Donald Trump and uncertainties surrounding his future policies.
During European morning trade, the EURO STOXX 50 advanced 0.45%, France’s CAC 40 climbed 0.53%, while Germany’s DAX 30 gained 0.46%.
Market sentiment initially weakened after Donald Trump failed to offer details on his promises to boost fiscal spending and cut taxes at a highly-anticipated news conference on Wednesday.
However, optimism over the U.S. economy strengthened after Federal Reserve Chair Janet Yellen said the economy is doing well and faces no serious obstacles in the short term, with the labor market looking strong.
Ms. Yellen was speaking at a town hall meeting with educators, in Washington.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) rallied 1.19% and 1.22%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) gained 0.45% and 1.05%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) advanced 0.66% and 1.24% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) climbed 0.43% and 0.54%.
Elsewhere, Fiat Chrysler Auto saw shares surge 5.54% even as the U.S. Environmental Protection Agency accused the carmaker on Thursday of illegally using hidden software to allow excess diesel emissions.
Merck (NYSE:MRK) added to gains, with shares up 0.94% after the German drugmaker announced plans to team up with U.S. data and analysis software company, Palantir, to develop new drugs more quickly.
In London, FTSE 100 gained 0.39%, led by Travis Perkins (LON:TPK), whose shares rallied 3.09% after analysts at Liberum Capital reiterated their “buy” rating on the stock.
Financial stocks were also on the upside, as Barclays (LON:BARC) rose 0.45% and HSBC Holdings (LON:HSBA) climbed 0.61%, while Lloyds Banking (LON:LLOY) and the Royal Bank of Scotland (LON:RBS) advanced 0.77% and 0.87% respectively.
Meanwhile, mining stocks were broadly lower on the commodity-heavy index. Shares in Antofagasta (LON:ANTO) declined 0.83% and Randgold Resources (LON:RRS) tumbled 0.96%, while rival company Fresnillo (LON:FRES) plunged 3.02%. Glencore (LON:GLEN) overperformed, with shares up 0.70%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.07% uptick, S&P 500 futures showed a 0.10% rise, while the Nasdaq 100 futures indicated a 0.11% gain.