Investing.com – European stock markets were higher on Thursday, as shares in the financial sector extended gains from the previous session as Greece prepared for a second vote on austerity measures designed to prevent a sovereign debt default.
During European morning trade, the EURO STOXX 50 gained 0.45%, France’s CAC 40 edged 0.35% higher, while Germany's DAX 30 advanced 0.2%.
Greek lawmakers were due to vote later in the day on the implementation of different parts of a EUR28.4 billion, five-year austerity package, paving the way for the country to receive further bailout loans needed to avoid a debt default.
Shares in lenders were broadly higher as concerns eased that Greece’s debt woes would spread to the region’s banking system.
Europe’s largest retail lender BNP Paribas saw shares climb 1.5%, Deutsche Bank gained 1.3%, while Spain’s Banco Santander and Italy’s Intesa Sanpaolo advanced 1.35% each.
Shares in network-service provider Alcatel-Lucent jumped 2.7% after UBS raised its rating on the stock to ‘buy’ from ‘neutral’.
In London, the FTSE 100 advanced 0.75% as shares in Lloyds Banking Group surged after the lender announced it would cut 15,000 jobs and withdraw operations from more than 15 of its overseas units in order to save GBP1.5 billion.
Lloyds shares rallied 9.5% following the announcement, while rivals Royal Bank of Scotland saw shares jump 4.7% and Barclays advanced 1.8%.
Meanwhile, shares in London Stock Exchange Group climbed 6.2% after the proposed merger of the London and Toronto exchanges did not get shareholder approval.
UBS added the company to its mergers and acquisition watch list, saying the London Exchange may now become a bid target.
Shares in oil producer BG Group jumped 4.9% after it announced that it was doubling reserve estimates for oil in its Santos Basin in Brazil.
The outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.25%, S&P 500 futures advanced 0.23%, while the Nasdaq 100 futures edged 0.24% higher.
Later in the day, the U.S. was to publish its weekly government report on initial jobless claims, as well as data on manufacturing activity in the Chicago region.
During European morning trade, the EURO STOXX 50 gained 0.45%, France’s CAC 40 edged 0.35% higher, while Germany's DAX 30 advanced 0.2%.
Greek lawmakers were due to vote later in the day on the implementation of different parts of a EUR28.4 billion, five-year austerity package, paving the way for the country to receive further bailout loans needed to avoid a debt default.
Shares in lenders were broadly higher as concerns eased that Greece’s debt woes would spread to the region’s banking system.
Europe’s largest retail lender BNP Paribas saw shares climb 1.5%, Deutsche Bank gained 1.3%, while Spain’s Banco Santander and Italy’s Intesa Sanpaolo advanced 1.35% each.
Shares in network-service provider Alcatel-Lucent jumped 2.7% after UBS raised its rating on the stock to ‘buy’ from ‘neutral’.
In London, the FTSE 100 advanced 0.75% as shares in Lloyds Banking Group surged after the lender announced it would cut 15,000 jobs and withdraw operations from more than 15 of its overseas units in order to save GBP1.5 billion.
Lloyds shares rallied 9.5% following the announcement, while rivals Royal Bank of Scotland saw shares jump 4.7% and Barclays advanced 1.8%.
Meanwhile, shares in London Stock Exchange Group climbed 6.2% after the proposed merger of the London and Toronto exchanges did not get shareholder approval.
UBS added the company to its mergers and acquisition watch list, saying the London Exchange may now become a bid target.
Shares in oil producer BG Group jumped 4.9% after it announced that it was doubling reserve estimates for oil in its Santos Basin in Brazil.
The outlook for U.S. equity markets was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.25%, S&P 500 futures advanced 0.23%, while the Nasdaq 100 futures edged 0.24% higher.
Later in the day, the U.S. was to publish its weekly government report on initial jobless claims, as well as data on manufacturing activity in the Chicago region.