Investing.com – European stock markets were broadly higher on Wednesday, as BNP Paribas led shares in the financial sector higher after upbeat earnings, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 climbed 0.15%, France’s CAC 40 added 0.35%, while Germany's DAX 30 rose 0.3%.
Stock indices pared gains after official data showed that retail sales in the euro zone declined 1% in March, confounding expectations for a 0.2% increase.
France’s largest bank BNP Paribas saw shares jump 3% after it reported first-quarter net profit rose 15% to EUR2.62 billion, surpassing expectations for profit of EUR2.17 billion. Revenue for the group rose 1.3% to EUR11.69 billion, led by a strong performance by its capital markets business.
The upbeat results boosted other shares across the sector, with Societe Generale climbing 2%, Deutsche Bank gaining 1.1%, while Spain’s second largest lender BBVA saw shares add 0.9%.
Shares in BMW advanced 1.8% after it said first quarter profit more than tripled to EUR1.2 billion, blowing past expectations for profit of EUR992 million. Revenue rose 29% to EUR16.04 billion, driven by booming demand from China and a recovery of the U.S. market.
Across the sector, Daimler saw shares rise 1.4%, while French automaker Renault added 1.05%.
On the downside, Nokia saw shares tumble 5.1% after the chairman of the company’s board of directors, Jorma Ollila said he would step down from his position at the end of the year.
In London, the FTSE 100 edged 0.3% lower as metal producers led losses after commodity prices tumbled amid concerns over signs of economic slowdown in China.
Mining giant Rio Tinto saw shares slump 1.1%, silver producer Fresnillo saw shares tumble 3.5%, while shares in copper producer Antofagasta plunged 6%.
The outlook for U.S. equity markets, meanwhile, was modestly upbeat ahead of earnings reports from media giant News Corp. and Time Warner. Organic grocer Whole Foods was also due to release earnings later in the day.
The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures indicated an increase of 0.06%, while the Nasdaq 100 futures eased up 0.04%.
Later in the day, the U.S. was to publish its ADP non-farm payrolls report, while the U.S. Institute for Supply Management was to publish its non-manufacturing PMI.
During European morning trade, the EURO STOXX 50 climbed 0.15%, France’s CAC 40 added 0.35%, while Germany's DAX 30 rose 0.3%.
Stock indices pared gains after official data showed that retail sales in the euro zone declined 1% in March, confounding expectations for a 0.2% increase.
France’s largest bank BNP Paribas saw shares jump 3% after it reported first-quarter net profit rose 15% to EUR2.62 billion, surpassing expectations for profit of EUR2.17 billion. Revenue for the group rose 1.3% to EUR11.69 billion, led by a strong performance by its capital markets business.
The upbeat results boosted other shares across the sector, with Societe Generale climbing 2%, Deutsche Bank gaining 1.1%, while Spain’s second largest lender BBVA saw shares add 0.9%.
Shares in BMW advanced 1.8% after it said first quarter profit more than tripled to EUR1.2 billion, blowing past expectations for profit of EUR992 million. Revenue rose 29% to EUR16.04 billion, driven by booming demand from China and a recovery of the U.S. market.
Across the sector, Daimler saw shares rise 1.4%, while French automaker Renault added 1.05%.
On the downside, Nokia saw shares tumble 5.1% after the chairman of the company’s board of directors, Jorma Ollila said he would step down from his position at the end of the year.
In London, the FTSE 100 edged 0.3% lower as metal producers led losses after commodity prices tumbled amid concerns over signs of economic slowdown in China.
Mining giant Rio Tinto saw shares slump 1.1%, silver producer Fresnillo saw shares tumble 3.5%, while shares in copper producer Antofagasta plunged 6%.
The outlook for U.S. equity markets, meanwhile, was modestly upbeat ahead of earnings reports from media giant News Corp. and Time Warner. Organic grocer Whole Foods was also due to release earnings later in the day.
The Dow Jones Industrial Average futures pointed to a gain of 0.1%, S&P 500 futures indicated an increase of 0.06%, while the Nasdaq 100 futures eased up 0.04%.
Later in the day, the U.S. was to publish its ADP non-farm payrolls report, while the U.S. Institute for Supply Management was to publish its non-manufacturing PMI.