Investing.com – European stocks posted sharp gains on Tuesday, rising for the first time in 6 days, as financial sector stocks led markets higher.
At the close of European trade, the EURO STOXX 50 soared 2.13%; France’s CAC 40 climbed 2.23%, while Germany's DAX jumped 1.31%.
Earlier in the day, official data showed that euro zone retail sales fell unexpectedly in August, while a separate report showed that the euro zone purchasing managers' index for service industries was revised up to 54.1 from 53.8.
Financial sector stocks extended early gains to end higher, as French lender BNP Paribas saw its shares soar 3.60%, German banker Deutsche Bank added 2.64% and Spanish-based lender Banco Santander climbed 3.94%.
Auto-makers also performed well on the day, as shares in Germany's BMW gained 3.19%, while Renault shares increased 3.60% after the French auto-maker introduced a new 2.0-liter model of its compact sedan SM3.
In London, the FTSE 100 extended early gains to end 1.42% higher. Earlier in the day, industry data showed that the U.K.’s services PMI rose unexpectedly in September.
Shares of British Airways soared 6.44% after the airliner said passenger traffic increased more-than-expected in September.
Meanwhile, shares in travel group TUI Travel Plc. jumped 4.01%, after the company reported that net debt for the year would be lower than previously expected.
Across the Atlantic, U.S. markets were higher: the Dow Jones Industrial Average was up 1.54%, the S&P 500 index jumped 1.81% and the Nasdaq Composite index soared 2.26%.
Earlier Tuesday, the U.S. Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 53.2 in September, after falling to 51.5 in August. Analysts had expected the index to advance to 51.8 in September.
At the close of European trade, the EURO STOXX 50 soared 2.13%; France’s CAC 40 climbed 2.23%, while Germany's DAX jumped 1.31%.
Earlier in the day, official data showed that euro zone retail sales fell unexpectedly in August, while a separate report showed that the euro zone purchasing managers' index for service industries was revised up to 54.1 from 53.8.
Financial sector stocks extended early gains to end higher, as French lender BNP Paribas saw its shares soar 3.60%, German banker Deutsche Bank added 2.64% and Spanish-based lender Banco Santander climbed 3.94%.
Auto-makers also performed well on the day, as shares in Germany's BMW gained 3.19%, while Renault shares increased 3.60% after the French auto-maker introduced a new 2.0-liter model of its compact sedan SM3.
In London, the FTSE 100 extended early gains to end 1.42% higher. Earlier in the day, industry data showed that the U.K.’s services PMI rose unexpectedly in September.
Shares of British Airways soared 6.44% after the airliner said passenger traffic increased more-than-expected in September.
Meanwhile, shares in travel group TUI Travel Plc. jumped 4.01%, after the company reported that net debt for the year would be lower than previously expected.
Across the Atlantic, U.S. markets were higher: the Dow Jones Industrial Average was up 1.54%, the S&P 500 index jumped 1.81% and the Nasdaq Composite index soared 2.26%.
Earlier Tuesday, the U.S. Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 53.2 in September, after falling to 51.5 in August. Analysts had expected the index to advance to 51.8 in September.