Investing.com – European stocks moved higher on Monday, as financial shares continued to perform strongly and miners advanced, while U.S. futures indices also pointed towards a higher open on Wall Street.
During European afternoon trade, the EURO STOXX 50 gained 0.78%; France’s CAC 40 advanced 0.87% while Germany's DAX was up 0.40%.
Earlier in the day, data showed that the euro zones manufacturing PMI fell more-than-expected in August while the services PMI declined in line with expectations.
In the financial sector, Shares of Royal Bank of Scotland gained 1.70%, while shares in French lender Natixis jumped 3.14%.
Meanwhile, shares in African insurer Old Mutual jumped 4.55% following reports that HSBC bank is in talks aimed at buying a controlling stake in Nedbank Group, which is owned by the insurer. Shares in HSBC surged 0.84%.
Meanwhile, shares in Britain's largest insurer, Aviva rose 3.18%.
In London, the commodity heavy FTSE 100 rose 0.79% with miners emerging as the top performers.
Shares in Rio Tinto gained 1.69% while shares in BHP Billiton jumped 2.06% amid speculation that Australian election results may result in a proposed mining tax being scrapped.
Meanwhile, crude oil prices gained 0.02% to hit USD 74.06 a barrel.
The outlook for U.S. equity markets, meanwhile, was optimistic: Dow Jones Industrial Average futures indicated a gain of 0.39%, S&P 500 futures pointed to a rise of 0.53% and Nasdaq 100 futures indicated an increase of 0.61%.
Later in the day, high ranking U.S. Federal Reserve, Thomas Hoenig was due to address a Congress committee in Washington. His comments would be closely watched for possible clues to the future direction of U.S. monetary policy.
During European afternoon trade, the EURO STOXX 50 gained 0.78%; France’s CAC 40 advanced 0.87% while Germany's DAX was up 0.40%.
Earlier in the day, data showed that the euro zones manufacturing PMI fell more-than-expected in August while the services PMI declined in line with expectations.
In the financial sector, Shares of Royal Bank of Scotland gained 1.70%, while shares in French lender Natixis jumped 3.14%.
Meanwhile, shares in African insurer Old Mutual jumped 4.55% following reports that HSBC bank is in talks aimed at buying a controlling stake in Nedbank Group, which is owned by the insurer. Shares in HSBC surged 0.84%.
Meanwhile, shares in Britain's largest insurer, Aviva rose 3.18%.
In London, the commodity heavy FTSE 100 rose 0.79% with miners emerging as the top performers.
Shares in Rio Tinto gained 1.69% while shares in BHP Billiton jumped 2.06% amid speculation that Australian election results may result in a proposed mining tax being scrapped.
Meanwhile, crude oil prices gained 0.02% to hit USD 74.06 a barrel.
The outlook for U.S. equity markets, meanwhile, was optimistic: Dow Jones Industrial Average futures indicated a gain of 0.39%, S&P 500 futures pointed to a rise of 0.53% and Nasdaq 100 futures indicated an increase of 0.61%.
Later in the day, high ranking U.S. Federal Reserve, Thomas Hoenig was due to address a Congress committee in Washington. His comments would be closely watched for possible clues to the future direction of U.S. monetary policy.