Investing.com – European stocks recorded sharp gains on Wednesday, as financials and commodity-linked shares led markets higher; meanwhile U.S. futures indexes pointed to a higher open on Wall Street ahead of the release of key data on ADP non-farm payrolls.
During European morning trade, the EURO STOXX 50 was up 0.90%; France’s CAC 40 increased 0.97%; while Germany's DAX rose 0.89%.
Earlier in the day, official data showed that the euro zone’s economy grew in line with expectations in the second quarter of 2010.
In Germany, shares in engineering conglomerate Siemens AG jumped 2.40% and auto-maker Volkswagen VZ climbed 2.55% after official data showed that German factory orders rose more-than-expected in August.
Elsewhere, financial sector stocks outperformed with banks leading gains. Shares in French lender Societe Generale increased 2.72%, Deutsche Bank saw its stock rise 2.58% and Spanish bank Banco Santander added 1.53%.
In London, the commodity heavy FTSE 100 was up 0.88% as commodity-linked shares led gains amid rising metal prices. Shares in the world’s largest miner BHP Billiton soared 3.19%, Rio Tinto gained 2.53% and Anglo American stocks jumped 4.22%.
Meanwhile, miners Xstrata and Kazakhmys saw its shares climb 3.43% and 3.36% respectively, after Morgan Stanley upgraded their stocks.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a gain of 0.34%, S&P 500 futures pointed to an increase of 0.30% and Nasdaq 100 futures indicated a rise of 0.20%.
Later in the day, the U.S. was to release ADP non-farm payrolls data.
During European morning trade, the EURO STOXX 50 was up 0.90%; France’s CAC 40 increased 0.97%; while Germany's DAX rose 0.89%.
Earlier in the day, official data showed that the euro zone’s economy grew in line with expectations in the second quarter of 2010.
In Germany, shares in engineering conglomerate Siemens AG jumped 2.40% and auto-maker Volkswagen VZ climbed 2.55% after official data showed that German factory orders rose more-than-expected in August.
Elsewhere, financial sector stocks outperformed with banks leading gains. Shares in French lender Societe Generale increased 2.72%, Deutsche Bank saw its stock rise 2.58% and Spanish bank Banco Santander added 1.53%.
In London, the commodity heavy FTSE 100 was up 0.88% as commodity-linked shares led gains amid rising metal prices. Shares in the world’s largest miner BHP Billiton soared 3.19%, Rio Tinto gained 2.53% and Anglo American stocks jumped 4.22%.
Meanwhile, miners Xstrata and Kazakhmys saw its shares climb 3.43% and 3.36% respectively, after Morgan Stanley upgraded their stocks.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a gain of 0.34%, S&P 500 futures pointed to an increase of 0.30% and Nasdaq 100 futures indicated a rise of 0.20%.
Later in the day, the U.S. was to release ADP non-farm payrolls data.