Investing.com – European stock markets were broadly higher on Wednesday, after the minutes of the Federal Reserve's August meeting added to expectations for more stimulus by the central bank, while upbeat corporate earnings reports also helped lift sentiment.
During European morning trade, the EURO STOXX 50 rose 1.25% France’s CAC 40 rallied 1.45%, while Germany’s DAX 30 jumped 1.3%.
European equities added to gains after a German government spokesman said that the German cabinet has approved the framework for a draft law to expand the euro zone’s bailout fund.
Meanwhile, minutes of the Fed’s August policy setting meeting published Tuesday revealed that some policy makers favored more aggressive action to stimulate the U.S. economy, including buying more government bonds.
In earnings news, shares in French media conglomerate Vivendi jumped 4.5% after saying that first-half net income nearly doubled to EUR2.56 billion. The company also affirmed its full-year earnings outlook.
French industrial group Bouygues saw shares surge 10.7% after announcing a share buyback plan of EUR1.25 billion.
German insurance firm Allianz rose 4.2% after Goldman Sachs recommended buying the stock, saying the recent drop in the share price had gone too far.
On the downside, shares in French retail giant Carrefour dropped 3.1% after reporting a first-half loss of EUR249 million. Carrefour attributed the results to an "unsatisfactory performance in France" and a "tough environment in Europe."
Elsewhere, in London, the commodity-heavy FTSE 100 climbed 1%, with miners leading gains. Copper producer Xstrata saw shares climb 2.1%, while mining giants BHP Billiton and Rio Tinto rose 1.7% and 1.2% respectively.
Shares in medical device company Smith & Nephew jumped 7.5% amid growing speculation the company may be subject to a takeover in the near-term.
The outlook for U.S. equity markets was upbeat ahead of earnings reports from the world’s largest mining equipment maker Joy Global.
The Dow Jones Industrial Average futures pointed to a gain of 0.3%, the S&P 500 futures indicated an increase of 0.35%, while the Nasdaq 100 futures pointed to a 0.4% gain.
Later in the day, payroll processing firm ADP was to release a report on U.S. non-farm payrolls. The U.S. was also to publish data on manufacturing activity in the Chicago area and factory orders.
During European morning trade, the EURO STOXX 50 rose 1.25% France’s CAC 40 rallied 1.45%, while Germany’s DAX 30 jumped 1.3%.
European equities added to gains after a German government spokesman said that the German cabinet has approved the framework for a draft law to expand the euro zone’s bailout fund.
Meanwhile, minutes of the Fed’s August policy setting meeting published Tuesday revealed that some policy makers favored more aggressive action to stimulate the U.S. economy, including buying more government bonds.
In earnings news, shares in French media conglomerate Vivendi jumped 4.5% after saying that first-half net income nearly doubled to EUR2.56 billion. The company also affirmed its full-year earnings outlook.
French industrial group Bouygues saw shares surge 10.7% after announcing a share buyback plan of EUR1.25 billion.
German insurance firm Allianz rose 4.2% after Goldman Sachs recommended buying the stock, saying the recent drop in the share price had gone too far.
On the downside, shares in French retail giant Carrefour dropped 3.1% after reporting a first-half loss of EUR249 million. Carrefour attributed the results to an "unsatisfactory performance in France" and a "tough environment in Europe."
Elsewhere, in London, the commodity-heavy FTSE 100 climbed 1%, with miners leading gains. Copper producer Xstrata saw shares climb 2.1%, while mining giants BHP Billiton and Rio Tinto rose 1.7% and 1.2% respectively.
Shares in medical device company Smith & Nephew jumped 7.5% amid growing speculation the company may be subject to a takeover in the near-term.
The outlook for U.S. equity markets was upbeat ahead of earnings reports from the world’s largest mining equipment maker Joy Global.
The Dow Jones Industrial Average futures pointed to a gain of 0.3%, the S&P 500 futures indicated an increase of 0.35%, while the Nasdaq 100 futures pointed to a 0.4% gain.
Later in the day, payroll processing firm ADP was to release a report on U.S. non-farm payrolls. The U.S. was also to publish data on manufacturing activity in the Chicago area and factory orders.