Investing.com – European stocks were sharply higher on Tuesday, amid hopes that Ireland’s parliament would pass an austerity budget later in the day, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 jumped 1.66%; France’s CAC 40 soared 1.95%; while Germany's DAX gained 1.14%.
Shares in the financial sector were mixed ahead of a crucial vote in Ireland’s parliament on the country’s budget. The world’s largest banking group BNP Paribas saw shares jump 2.83%, shares in the Royal Bank of Scotland surged 2.14%, while shares in the Bank of Ireland rallied 3.85%.
However shares in Spain’s largest lender Banco Santander tumbled 1.28%, while rivals BBVA saw shares drop 1.61% after European finance ministers ruled out immediate aid for Portugal and Spain or an increase in the EUR 750 billion bailout fund on Monday.
Meanwhile, shares in French power engineering and train company Alstom SA surged 4.84% after it said it signed a cooperation agreement with China’s Ministry of Railway to jointly develop rail markets in China and abroad.
Shares in consumer goods giant Unilever jumped 3.82% after the stock was upgraded two notches to ‘overweight’ from ‘underweight’ by Morgan Stanley.
Elsewhere, in London, the commodity-heavy FTSE 100 climbed 1.10% as metal and crude oil prices advanced. Shares in the world’s largest mining group BHP Billiton soared 2.20%, copper producer Xstrata saw shares jump 3.27%, while shares in oil and gas giant British Petroleum surged 2.13%.
Meanwhile, shares in Britain’s largest supplier of building materials Wolseley rallied 4.15% after the company said fiscal first quarter net earnings jumped by 39% to GBP 159 million, compared to GBP 114 million a year earlier.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.73%, S&P 500 futures indicated a rise of 0.88% and Nasdaq 100 futures pointed to an increase of 0.85%.
Later in the day, the U.S. was to publish data on economic optimism and consumer credit.
During European morning trade, the EURO STOXX 50 jumped 1.66%; France’s CAC 40 soared 1.95%; while Germany's DAX gained 1.14%.
Shares in the financial sector were mixed ahead of a crucial vote in Ireland’s parliament on the country’s budget. The world’s largest banking group BNP Paribas saw shares jump 2.83%, shares in the Royal Bank of Scotland surged 2.14%, while shares in the Bank of Ireland rallied 3.85%.
However shares in Spain’s largest lender Banco Santander tumbled 1.28%, while rivals BBVA saw shares drop 1.61% after European finance ministers ruled out immediate aid for Portugal and Spain or an increase in the EUR 750 billion bailout fund on Monday.
Meanwhile, shares in French power engineering and train company Alstom SA surged 4.84% after it said it signed a cooperation agreement with China’s Ministry of Railway to jointly develop rail markets in China and abroad.
Shares in consumer goods giant Unilever jumped 3.82% after the stock was upgraded two notches to ‘overweight’ from ‘underweight’ by Morgan Stanley.
Elsewhere, in London, the commodity-heavy FTSE 100 climbed 1.10% as metal and crude oil prices advanced. Shares in the world’s largest mining group BHP Billiton soared 2.20%, copper producer Xstrata saw shares jump 3.27%, while shares in oil and gas giant British Petroleum surged 2.13%.
Meanwhile, shares in Britain’s largest supplier of building materials Wolseley rallied 4.15% after the company said fiscal first quarter net earnings jumped by 39% to GBP 159 million, compared to GBP 114 million a year earlier.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.73%, S&P 500 futures indicated a rise of 0.88% and Nasdaq 100 futures pointed to an increase of 0.85%.
Later in the day, the U.S. was to publish data on economic optimism and consumer credit.