Investing.com - European stocks pushed higher on Wednesday, as Chinese trade data supported market sentiment, while markets awaited minutes from the Federal Reserve’s latest policy meeting later in the day.
During European afternoon trade, the EURO STOXX 50 surged 1.44%, France’s CAC 40 rallied 1.21%, while Germany’s DAX 30 jumped 1.17%.
Market sentiment was boosted after data showed that China posted an unexpected trade surplus in March as imports rose sharply to outstrip exports.
The data helped eased concerns over weakening domestic demand in the world’s second largest economy.
Meanwhile, investors were waiting to see if the U.S. central bank discussed the possibility of an earlier-than-expected end to its quantitative easing program at its March meeting, after examining the possibility at its previous two meetings.
Financial stocks remained broadly higher, as French lenders BNP Paribas and Societe Generale surged 3.56% and 5.03%, while Germany's Deutsche Bank and Commerzbank jumped 2.19% and 2.68%.
Peripheral lenders added to gains, with Italian banks Intesa Sanpaolo and Unicredit rallying 3.48% and 2.99% respectively, while Spain's BBVA and Banco Santander advanced 3.14% and 3.62%.
On the downside, France Telecom declined 0.56% after Goldman Sachs added the stock to its conviction sell list, citing a deteriorating domestic economy.
In London, FTSE 100 gained 0.76%, as U.K. lenders continued to track their European counterparts higher.
Shares in HSBC Holdings advanced 0.98% and Lloyds Banking jumped 2.12%, while the Royal Bank of Scotland and Barclays rallied 3.10% and 3.51% respectively.
Mining giants BHP Billiton and Rio Tinto also remained on the upside, climbing 0.87% and 1.45%, while rival companies Vedanta Resources and Eurasian Natural Resources surged 5.11% and 5.94%.
Adding to gains, copper producers Xstrata and Kazakhmys advanced 1.60% and 6.79%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.29% gain, S&P 500 futures signaled a 0.31% rise, while the Nasdaq 100 futures indicated a 0.37% increase.
Also Wednesday, official data showed that industrial production in France 0.7% in February, more than the expected 0.6% increase, after a 0.8% decline the previous month.
During European afternoon trade, the EURO STOXX 50 surged 1.44%, France’s CAC 40 rallied 1.21%, while Germany’s DAX 30 jumped 1.17%.
Market sentiment was boosted after data showed that China posted an unexpected trade surplus in March as imports rose sharply to outstrip exports.
The data helped eased concerns over weakening domestic demand in the world’s second largest economy.
Meanwhile, investors were waiting to see if the U.S. central bank discussed the possibility of an earlier-than-expected end to its quantitative easing program at its March meeting, after examining the possibility at its previous two meetings.
Financial stocks remained broadly higher, as French lenders BNP Paribas and Societe Generale surged 3.56% and 5.03%, while Germany's Deutsche Bank and Commerzbank jumped 2.19% and 2.68%.
Peripheral lenders added to gains, with Italian banks Intesa Sanpaolo and Unicredit rallying 3.48% and 2.99% respectively, while Spain's BBVA and Banco Santander advanced 3.14% and 3.62%.
On the downside, France Telecom declined 0.56% after Goldman Sachs added the stock to its conviction sell list, citing a deteriorating domestic economy.
In London, FTSE 100 gained 0.76%, as U.K. lenders continued to track their European counterparts higher.
Shares in HSBC Holdings advanced 0.98% and Lloyds Banking jumped 2.12%, while the Royal Bank of Scotland and Barclays rallied 3.10% and 3.51% respectively.
Mining giants BHP Billiton and Rio Tinto also remained on the upside, climbing 0.87% and 1.45%, while rival companies Vedanta Resources and Eurasian Natural Resources surged 5.11% and 5.94%.
Adding to gains, copper producers Xstrata and Kazakhmys advanced 1.60% and 6.79%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.29% gain, S&P 500 futures signaled a 0.31% rise, while the Nasdaq 100 futures indicated a 0.37% increase.
Also Wednesday, official data showed that industrial production in France 0.7% in February, more than the expected 0.6% increase, after a 0.8% decline the previous month.