Investing.com – European stocks were up on Tuesday, as financial stocks and retailers led gains; meanwhile U.S. futures indexes pointed to a higher open on Wall Street ahead of the release of key data on the U.S. services sector.
During European morning trade, the EURO STOXX 50 was up 0.46%; France’s CAC 40 increased 0.64%; while Germany's DAX rose 0.15%.
Earlier in the day, official data showed that retail sales in the euro zone declined unexpectedly in August. However, the broader European retail sector benefitted from an upgrade to ‘overweight’ from ‘market weight’ at Barclays Capital, which cited a combination of consistent dividend growth, the return of food inflation and exposure to emerging markets.
Shares in German retailers Metro AG rose 0.54%, France-based cosmetics company L’Oreal surged 1.47%, while shares in Tesco rose 0.66%, after the world’s third-largest retailer reported a stronger-than-expected profit for the first half of the year.
In the financial sector, lenders posted gains as shares in Deutsche Bank advanced 0.92%, Italian lender Unicredito rose 0.72% and French bank BNP Paribas saw shares increase 0.61%.
In London, the commodity heavy FTSE 100 was up 0.21% as miners Xstrata gained 0.45%, Rio Tinto stocks advanced 0.21%, while oil giant British Petroleum rose 0.41% as crude oil and metal prices advanced.
Elsewhere, shares in travel group TUI Travel Plc. soared 4.24%, after the company said net debt for the year would be lower than previously expected.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a gain of 0.23%, S&P 500 futures pointed to an increase of 0.35% and Nasdaq 100 futures indicated a rise of 0.40%.
Later in the day, the U.S. was to release key data on service sector growth.
During European morning trade, the EURO STOXX 50 was up 0.46%; France’s CAC 40 increased 0.64%; while Germany's DAX rose 0.15%.
Earlier in the day, official data showed that retail sales in the euro zone declined unexpectedly in August. However, the broader European retail sector benefitted from an upgrade to ‘overweight’ from ‘market weight’ at Barclays Capital, which cited a combination of consistent dividend growth, the return of food inflation and exposure to emerging markets.
Shares in German retailers Metro AG rose 0.54%, France-based cosmetics company L’Oreal surged 1.47%, while shares in Tesco rose 0.66%, after the world’s third-largest retailer reported a stronger-than-expected profit for the first half of the year.
In the financial sector, lenders posted gains as shares in Deutsche Bank advanced 0.92%, Italian lender Unicredito rose 0.72% and French bank BNP Paribas saw shares increase 0.61%.
In London, the commodity heavy FTSE 100 was up 0.21% as miners Xstrata gained 0.45%, Rio Tinto stocks advanced 0.21%, while oil giant British Petroleum rose 0.41% as crude oil and metal prices advanced.
Elsewhere, shares in travel group TUI Travel Plc. soared 4.24%, after the company said net debt for the year would be lower than previously expected.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a gain of 0.23%, S&P 500 futures pointed to an increase of 0.35% and Nasdaq 100 futures indicated a rise of 0.40%.
Later in the day, the U.S. was to release key data on service sector growth.