Investing.com - European stocks were higher on Tuesday, as investors continued to focus on Spain amid ongoing uncertainty over whether Madrid is about to ask for a full scale sovereign bailout.
During European afternoon trade, the EURO STOXX 50 climbed 0.61%, France’s CAC 40 added 0.25%, while Germany’s DAX 30 rose 0.39%.
Reuters reported Monday that Spain may be preparing to request a bailout as early as next weekend, but Germany is urging Madrid to wait.
In addition, investors were eying the outcome of Moody's review of Spain's rating, which could see Madrid's credit standing cut to junk status.
Market sentiment remained supported however, after data on Monday showed that U.S. manufacturing activity expanded in September for the first time in four months, easing concerns over a slowdown in global growth.
Financial stocks turned broadly higher, as shares in French lenders Societe Generale and BNP Paribas climbed 0.48% and 0.60%, while Germany's Deutsche Bank and Commerzbank surged 2.19% and 2.10% respectively.
Italy saw Unicredit rally 1.80% and Intesa Sanpaolo jump 2.02%, extending earlier gains, while Spanish banks Banco Santander and BBVA climbed 1.60% and 2.07%.
Meanwhile, Alstom remained on the downside, with shares plunging 4.80%, after the company sold stock at EUR26.65 euros apiece, a 5.6% percent discount to yesterday’s close, to finance a Russian acquisition that it announced in 2009.
The French engineering company also reiterated its earnings forecast and said free cash flow should be positive in each of the next three years.
In London, commodity-heavy FTSE 100 added 0.20%, supported by gains in mining stocks, while data showed that construction activity in the U.K. rose less-than-expected in September.
Mining giants Rio Tinto and BHP Billiton saw shares rise 1.28% and 0.06%, while copper producers Xstrata and Kazakhmys advanced 0.24% and 1.12%.
Oil and gas major Anglo American added to gains, as shares climbed 0.86%, while rival BP dipped 0.01%.
Elsewhere, financial stocks remained mostly lower. Barclays edged down 0.11% and Lloyds Banking tumbled 2.50%, while the Royal Bank of Scotland plummeted 2.70%. HSBC Holdings outperformed its counterparts on the other hand, as shares added 0.11%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.31% rise, S&P 500 futures signaled a 0.48% increase, while the Nasdaq 100 futures indicated a 0.45% gain.
Also Monday, data showed that that the number of unemployed people in Spain rose by 79,600 in September, following an increase of 38,200 the previous month.
During European afternoon trade, the EURO STOXX 50 climbed 0.61%, France’s CAC 40 added 0.25%, while Germany’s DAX 30 rose 0.39%.
Reuters reported Monday that Spain may be preparing to request a bailout as early as next weekend, but Germany is urging Madrid to wait.
In addition, investors were eying the outcome of Moody's review of Spain's rating, which could see Madrid's credit standing cut to junk status.
Market sentiment remained supported however, after data on Monday showed that U.S. manufacturing activity expanded in September for the first time in four months, easing concerns over a slowdown in global growth.
Financial stocks turned broadly higher, as shares in French lenders Societe Generale and BNP Paribas climbed 0.48% and 0.60%, while Germany's Deutsche Bank and Commerzbank surged 2.19% and 2.10% respectively.
Italy saw Unicredit rally 1.80% and Intesa Sanpaolo jump 2.02%, extending earlier gains, while Spanish banks Banco Santander and BBVA climbed 1.60% and 2.07%.
Meanwhile, Alstom remained on the downside, with shares plunging 4.80%, after the company sold stock at EUR26.65 euros apiece, a 5.6% percent discount to yesterday’s close, to finance a Russian acquisition that it announced in 2009.
The French engineering company also reiterated its earnings forecast and said free cash flow should be positive in each of the next three years.
In London, commodity-heavy FTSE 100 added 0.20%, supported by gains in mining stocks, while data showed that construction activity in the U.K. rose less-than-expected in September.
Mining giants Rio Tinto and BHP Billiton saw shares rise 1.28% and 0.06%, while copper producers Xstrata and Kazakhmys advanced 0.24% and 1.12%.
Oil and gas major Anglo American added to gains, as shares climbed 0.86%, while rival BP dipped 0.01%.
Elsewhere, financial stocks remained mostly lower. Barclays edged down 0.11% and Lloyds Banking tumbled 2.50%, while the Royal Bank of Scotland plummeted 2.70%. HSBC Holdings outperformed its counterparts on the other hand, as shares added 0.11%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.31% rise, S&P 500 futures signaled a 0.48% increase, while the Nasdaq 100 futures indicated a 0.45% gain.
Also Monday, data showed that that the number of unemployed people in Spain rose by 79,600 in September, following an increase of 38,200 the previous month.