Investing.com – European stock markets advanced on Tuesday, as strong corporate earnings results from Swiss banking giant UBS boosted shares in the financial sector, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 climbed 0.5%, France’s CAC 40 rose 0.45%, while Germany's DAX 30 advanced 0.4%.
Switzerland’s largest bank UBS saw shares rally 5.8% after it reported first-quarter net income totaled CHF1.81 billion, beating expectations of CHF1.69. The firm said inflow of cash from wealthy clients had rebounded to the highest levels since 2007, signaling improving confidence in its private- banking arm.
The upbeat results boosted other shares across the sector, with Deutsche Bank climbing 1.15%, Banco Santander gaining 1.6%, while BNP Paribas added 0.8%.
Meanwhile, Dutch financial service group Aegon saw shares jump 3.9% after it agreed to sell its Transamerica Reinsurance unit to French insurer Scor for approximately EUR625 million.
Shares in Italian dairy giant Parmalat soared 11.85% after privately-held French dairy company Groupe Lactalis announced that it launched a EUR3.4 billion takeover bid for the Italian company. Lactalis already owns a 29% stake in Parmalat.
In London, the FTSE 100 edged 0.3% higher led by gains in the technology sector. Chip manufacturer ARM Holdings saw shares jump 2% after Citigroup upgraded the stock and raised its price target.
Software developer Autonomy, which posted better-than-expected first quarter earnings results last week climbed 1.9%
Meanwhile, shares in oil and gas giant British Petroleum added 0.75%, as investors positioned themselves in the stock ahead of its quarterly earnings report, due out on Wednesday.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Coca-Cola, Ford as well as online retailer Amazon.
The Dow Jones Industrial Average futures pointed to a gain of 0.2%, S&P 500 futures indicated a rise of 0.3%, while the Nasdaq 100 futures added 0.25%.
Later in the day, the U.S. was to publish reports on house price inflation and consumer confidence, as well as official data on manufacturing activity in Richmond.
During European morning trade, the EURO STOXX 50 climbed 0.5%, France’s CAC 40 rose 0.45%, while Germany's DAX 30 advanced 0.4%.
Switzerland’s largest bank UBS saw shares rally 5.8% after it reported first-quarter net income totaled CHF1.81 billion, beating expectations of CHF1.69. The firm said inflow of cash from wealthy clients had rebounded to the highest levels since 2007, signaling improving confidence in its private- banking arm.
The upbeat results boosted other shares across the sector, with Deutsche Bank climbing 1.15%, Banco Santander gaining 1.6%, while BNP Paribas added 0.8%.
Meanwhile, Dutch financial service group Aegon saw shares jump 3.9% after it agreed to sell its Transamerica Reinsurance unit to French insurer Scor for approximately EUR625 million.
Shares in Italian dairy giant Parmalat soared 11.85% after privately-held French dairy company Groupe Lactalis announced that it launched a EUR3.4 billion takeover bid for the Italian company. Lactalis already owns a 29% stake in Parmalat.
In London, the FTSE 100 edged 0.3% higher led by gains in the technology sector. Chip manufacturer ARM Holdings saw shares jump 2% after Citigroup upgraded the stock and raised its price target.
Software developer Autonomy, which posted better-than-expected first quarter earnings results last week climbed 1.9%
Meanwhile, shares in oil and gas giant British Petroleum added 0.75%, as investors positioned themselves in the stock ahead of its quarterly earnings report, due out on Wednesday.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Coca-Cola, Ford as well as online retailer Amazon.
The Dow Jones Industrial Average futures pointed to a gain of 0.2%, S&P 500 futures indicated a rise of 0.3%, while the Nasdaq 100 futures added 0.25%.
Later in the day, the U.S. was to publish reports on house price inflation and consumer confidence, as well as official data on manufacturing activity in Richmond.