Investing.com - European stocks were higher on Tuesday, as a rebound in oil prices boosted energy-related stocks and as markets continued to digest Friday’s disappointing U.S. jobs data.
During European morning trade, the EURO STOXX 50 edged up 0.17%, France’s CAC 40 added 0.21%, while Germany’s DAX 30 rose 0.28%.
Global stocks strengthened after downbeat U.S. employment data published last Friday crushed expectations for a rate hike by the Federal Reserve this month.
Meanwhile, energy-stocks were boosted as oil prices moved higher for a second consecutive session after Russia and Saudi Arabia agreed on Monday to cooperate on stabilising the oil market.
French oil and gas major Total SA (PA:TOTF) advanced 0.91% and Italy’s ENI (MI:ENI) climbed 0.94%, while Russian rival Gazprom (MCX:GAZP) gained 0.79%.
Financial stocks were mostly lower, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) fell 0.23% and 0.32%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) tumbled 0.76% and 1.02%.
However, among peripheral lenders, Intesa Sanpaolo (MI:ISP) slipped 0.19% and Unicredit (MI:CRDI) climbed 0.77% in Italy, while BBVA (MC:BBVA) and Banco Santander (MC:SAN) rose 0.30% and 0.65% respectively in Spain.
Barclays (LON:BARC) earlier raised its price target for both Spanish banks.
Elsewhere, Deutsche Telekom (DE:DTEGn) inched down 0.01% after the company denied a report by German newspaper Handelsblattthat saying it is considering restructuring which could include thousands of job cuts.
Aegon (AS:AEGN) plummeted 1.55% aftet the Dutch financial services company said that its chief financial officer Darryl Button is stepping down and that the selection process for his successor has begun.
In London, FTSE 100 dipped 0.06%, weighed by Standard Chartered (LON:STAN), whose shares tumbled 1.25% following reports it expects to remain under U.S. supervision for several more years over lapses in Iran-related anti-money laundering efforts.
The financial services group said it needs more time to improve its internal standards.
Other U.K. lenders added to losses, as Lloyds Banking (LON:LLOY) eased 0.08% and HSBC Holdings (LON:HSBA) slid 0.38%, while Barclays dropped 0.40%. The Royal Bank of Scotland (LON:RBS) overperformed however, with shares advancing 0.46%.
Meanwhile, mining stocks were broadly higher on the commodity-heavy index. Shares in Rio Tinto (LON:RIO) climbed 0.95% and BHP Billiton (LON:BLT) jumped 1.15%, while Glencore (LON:GLEN) and Anglo American (LON:AAL) rallied 1.41% and 2.09% respectively.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.12% rise, S&P 500 futures showed a 0.10% gain, while the Nasdaq 100 futures indicated a 0.09% uptick.