Investing.com - European stock markets rose on Monday, as markets eyed a meeting of euro zone finance ministers to discuss a Greek bailout and as China cut banks’ reserve requirements.
During European morning trade, the EURO STOXX 50 climbed 1.02%, France’s CAC 40 advanced 0.94%, while Germany’s DAX 30 jumped 1%.
Sentiment was boosted as investors expected euro zone finance ministers to approve a much needed EUR130 billion bailout for Greece at a meeting in Brussels later in the day.
Without a bailout, Athens faces the threat of defaulting when a EUR14.5 billion bond redemption comes due on March 20.
Investor confidence also strengthened after China cut the amount of cash banks must hold in their reserves on Saturday, boosting lending capacity in an effort to spur the world's second-biggest economy.
Financial stocks led gains as shares in Italy’s Unicredit jumped 1.90% and Spanish BBVA climbed 1.45%.
French lenders Societe Generale and BNP Paribas were also higher, with shares advancing 1.21% and 0.84%, while Germany’s Deutsche Bank and Commerzbank surged 1.19% and 1.88% respectively.
Elsewhere, TNT Express NV skyrocketed 54.96% after Europe’s second-largest package-delivery company rejected a USD6.43 billion takeover offer from UPS.
On the downside, Carlsberg, the owner of Russia’s biggest brewer, declined 0.87% after the company posted a 4.2% drop in 2011 profit on weaker sales in Russia and higher input costs.
In London, FTSE 100 advanced 0.77%, boosted by gains in energy stocks while industry data showed that house prices in the U.K. rose 4.1% on February.
BP soared 2.12% as oil prices surged after Iran said it halted some crude exports and investors expect fuel demand to increase.
Mining giants Bhp Billiton and Rio Tinto also added to gains, with shares climbing 2.11% and 1.59%, while copper producers Xstrata and Kazakhmys jumped 1.36% and 2.36%.
Meanwhile, U.K. lenders were mixed. The Royal Bank of Scotland saw shares jump 1.59%, and Lloyds Banking rose 1.29%, while HSBC Holdings slipped 0.12%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.49%, S&P 500 futures signaled a 0.43% increase, while the Nasdaq 100 futures indicated a 0.52% gain.
Markets in the U.S. remained closed for the Presidents Day holiday.
During European morning trade, the EURO STOXX 50 climbed 1.02%, France’s CAC 40 advanced 0.94%, while Germany’s DAX 30 jumped 1%.
Sentiment was boosted as investors expected euro zone finance ministers to approve a much needed EUR130 billion bailout for Greece at a meeting in Brussels later in the day.
Without a bailout, Athens faces the threat of defaulting when a EUR14.5 billion bond redemption comes due on March 20.
Investor confidence also strengthened after China cut the amount of cash banks must hold in their reserves on Saturday, boosting lending capacity in an effort to spur the world's second-biggest economy.
Financial stocks led gains as shares in Italy’s Unicredit jumped 1.90% and Spanish BBVA climbed 1.45%.
French lenders Societe Generale and BNP Paribas were also higher, with shares advancing 1.21% and 0.84%, while Germany’s Deutsche Bank and Commerzbank surged 1.19% and 1.88% respectively.
Elsewhere, TNT Express NV skyrocketed 54.96% after Europe’s second-largest package-delivery company rejected a USD6.43 billion takeover offer from UPS.
On the downside, Carlsberg, the owner of Russia’s biggest brewer, declined 0.87% after the company posted a 4.2% drop in 2011 profit on weaker sales in Russia and higher input costs.
In London, FTSE 100 advanced 0.77%, boosted by gains in energy stocks while industry data showed that house prices in the U.K. rose 4.1% on February.
BP soared 2.12% as oil prices surged after Iran said it halted some crude exports and investors expect fuel demand to increase.
Mining giants Bhp Billiton and Rio Tinto also added to gains, with shares climbing 2.11% and 1.59%, while copper producers Xstrata and Kazakhmys jumped 1.36% and 2.36%.
Meanwhile, U.K. lenders were mixed. The Royal Bank of Scotland saw shares jump 1.59%, and Lloyds Banking rose 1.29%, while HSBC Holdings slipped 0.12%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.49%, S&P 500 futures signaled a 0.43% increase, while the Nasdaq 100 futures indicated a 0.52% gain.
Markets in the U.S. remained closed for the Presidents Day holiday.