Investing.com – European stocks were up on Wednesday, boosted by strong earnings reports from Apple and Fiat, while Asian markets rose broadly and U.S. futures also advanced.
During European morning trade, the EURO STOXX 50 advanced 1.51%; France’s CAC 40 rose 1.65% while Germany's DAX was up 1.25%.
Italian car manufacturer Fiat jumped 5% after the company reported better-than-expected trading earnings. Shares in Apple gained 2.5% after the company reported a 78% surge in third quarter earnings on the back of booming sales for the iPad and new iPhone.
Dutch satellite-navigation-equipment maker TomTom surged 4% after its second-quarter net profit rose 69% to EUR 34 million.
In London, the commodity heavy FTSE 100 was up 1.56% as oil and gas companies traded higher, with BP rising 2% after the company announced it was to sell USD 7 billion of assets.
Earlier in the day, the London Times newspaper reported that Robert Dudley is the front-runner to replace BP CEO Tony Hayward, who is set to step down in the next 10 weeks. A spokesperson for BP denied the report.
The outlook for U.S. equity markets, meanwhile, was optimistic: Dow Jones Industrial Average futures indicated an increase of 0.13%, S&P 500 futures pointed to a gain of 0.22% and Nasdaq 100 futures indicated a rise of 0.55%.
Later in the day, U.S., Federal Reserve chairman Ben Bernanke was to testify before the Senate Banking Committee in Washington.
During European morning trade, the EURO STOXX 50 advanced 1.51%; France’s CAC 40 rose 1.65% while Germany's DAX was up 1.25%.
Italian car manufacturer Fiat jumped 5% after the company reported better-than-expected trading earnings. Shares in Apple gained 2.5% after the company reported a 78% surge in third quarter earnings on the back of booming sales for the iPad and new iPhone.
Dutch satellite-navigation-equipment maker TomTom surged 4% after its second-quarter net profit rose 69% to EUR 34 million.
In London, the commodity heavy FTSE 100 was up 1.56% as oil and gas companies traded higher, with BP rising 2% after the company announced it was to sell USD 7 billion of assets.
Earlier in the day, the London Times newspaper reported that Robert Dudley is the front-runner to replace BP CEO Tony Hayward, who is set to step down in the next 10 weeks. A spokesperson for BP denied the report.
The outlook for U.S. equity markets, meanwhile, was optimistic: Dow Jones Industrial Average futures indicated an increase of 0.13%, S&P 500 futures pointed to a gain of 0.22% and Nasdaq 100 futures indicated a rise of 0.55%.
Later in the day, U.S., Federal Reserve chairman Ben Bernanke was to testify before the Senate Banking Committee in Washington.