Investing.com – European stocks advanced on Monday, as a strong performance from automakers overshadowed losses in the airline sector, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 gained 0.40%; France’s CAC 40 climbed 0.58%; while Germany's DAX added 0.36%.
Shares in the financial sector were mixed amid ongoing concerns over the euro zone’s sovereign debt crisis. Shares in Italy’s largest lender Unicredit jumped 1.09%, Deutsche Bank saw shares slump 0.73%, while shares in Spain’s biggest bank Banco Santander dropped 0.76%.
Meanwhile, shares in France’s largest insurer AXA jumped 2.17% after Bank of America-Merrill Lynch upgraded the stock.
Elsewhere, shares in automakers were broadly higher. Europe’s largest automaker Volkswagen climbed 2.82% after it said it expected sales in China to grow by 10% to 15% in 2011. Meanwhile, rivals Peugeot saw shares climb 1.70% after the company said it planned to increase its dealerships in China next year by 25%.
However, shares in the airline sector performed poorly as severe weather disrupted flights across Europe over the weekend. Shares in Europe’s largest airline Deutsche Lufthansa tumbled 1.55%, rivals Air France-KLM saw shares drop 1.24%, while shares in British Airways plunged 2.50%.
Meanwhile, shares in Europe’s largest infrastructure operator Abertis Infraestructuras surged 3.74% after a report said global private equity firm CVC Capital Partners was preparing a EUR 12 billion bid for the company.
In London, the FTSE 100 climbed 0.11% as gains in commodity-linked shares outweighed losses in the financial sector.
Shares in the world’s largest mining group BHP Billiton climbed 0.51%, rivals Rio Tinto saw shares gain 0.77%, while energy producer Aggreko saw shares jump 0.84% after it won a GBP 37 million contract to supply power to the London 2012 Olympics.
Meanwhile, shares in Britain’s largest lender Barclays slumped 0.52%, while rivals Lloyds Banking Group saw shares tumble 1.01%.
The outlook for U.S. equity markets, meanwhile, was modestly upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.03%, S&P 500 futures indicated a rise of 0.06% and Nasdaq 100 futures pointed to an increase of 0.08%.
Earlier in the day, South Korea conducted live-fire exercises close to its disputed maritime border with North Korea. However, the military drills were concluded without incident, while reports later surfaced that North Korea has agreed to allow United Nations nuclear inspectors back into the country.
During European morning trade, the EURO STOXX 50 gained 0.40%; France’s CAC 40 climbed 0.58%; while Germany's DAX added 0.36%.
Shares in the financial sector were mixed amid ongoing concerns over the euro zone’s sovereign debt crisis. Shares in Italy’s largest lender Unicredit jumped 1.09%, Deutsche Bank saw shares slump 0.73%, while shares in Spain’s biggest bank Banco Santander dropped 0.76%.
Meanwhile, shares in France’s largest insurer AXA jumped 2.17% after Bank of America-Merrill Lynch upgraded the stock.
Elsewhere, shares in automakers were broadly higher. Europe’s largest automaker Volkswagen climbed 2.82% after it said it expected sales in China to grow by 10% to 15% in 2011. Meanwhile, rivals Peugeot saw shares climb 1.70% after the company said it planned to increase its dealerships in China next year by 25%.
However, shares in the airline sector performed poorly as severe weather disrupted flights across Europe over the weekend. Shares in Europe’s largest airline Deutsche Lufthansa tumbled 1.55%, rivals Air France-KLM saw shares drop 1.24%, while shares in British Airways plunged 2.50%.
Meanwhile, shares in Europe’s largest infrastructure operator Abertis Infraestructuras surged 3.74% after a report said global private equity firm CVC Capital Partners was preparing a EUR 12 billion bid for the company.
In London, the FTSE 100 climbed 0.11% as gains in commodity-linked shares outweighed losses in the financial sector.
Shares in the world’s largest mining group BHP Billiton climbed 0.51%, rivals Rio Tinto saw shares gain 0.77%, while energy producer Aggreko saw shares jump 0.84% after it won a GBP 37 million contract to supply power to the London 2012 Olympics.
Meanwhile, shares in Britain’s largest lender Barclays slumped 0.52%, while rivals Lloyds Banking Group saw shares tumble 1.01%.
The outlook for U.S. equity markets, meanwhile, was modestly upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.03%, S&P 500 futures indicated a rise of 0.06% and Nasdaq 100 futures pointed to an increase of 0.08%.
Earlier in the day, South Korea conducted live-fire exercises close to its disputed maritime border with North Korea. However, the military drills were concluded without incident, while reports later surfaced that North Korea has agreed to allow United Nations nuclear inspectors back into the country.