Investing.com – European stock markets were up on Wednesday, as strong corporate earnings results and brokerage upgrades boosted market sentiment, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 climbed 0.3%, France’s CAC 40 added 0.15%, while Germany's DAX 30 gained 0.5%.
Italian luxury goods producer Bulgari saw shares climb 0.8% after it swung to a first quarter profit and said it was optimistic about its growth prospects. LVMH Moet Hennessy Louis Vuitton, which acquired the company in early March, saw shares rise 2.75%.
Shares in German automaker Porsche jumped 3% after Morgan Stanley upgraded the stock to ‘overweight’. Across the sector, Volkswagen saw shares gain 1%, while French automaker Peugeot rose 1.5%.
Meanwhile, uncertainty over Greece's debt situation continued to play on investors' minds, with an anti-austerity strike planned Wednesday.
French Finance Minister Christine Lagarde told Le Figaro newspaper it is hard to see Greece returning to debt markets in 2012 and Europe would have to keep financing countries in difficulty to avoid a costly restructuring.
Shares in Societe Generale slumped 0.9%, Spanish lender Banco Santander declined 1%, while Italy’s largest bank Unicredit fell 0.8%.
In London, the FTSE 100 edged 0.15% lower as markets awaited the Bank of England’s quarterly inflation report later in the day.
Meanwhile, shares in HSBC Holdings slumped 1.1% after it announced plans to reduce costs by GBP1.5 billion to GBP2.1 billion by 2013 as part of a restructuring strategy.
On the upside, retailer Marks and Spencer saw shares jump 3.1% after JP Morgan raised its rating on the stock to ‘overweight’ and lifted its price target by 32%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Cisco Systems and department store operator Macy’s.
The Dow Jones Industrial Average futures pointed to a modest gain of 0.06%, S&P 500 futures indicated an increase of 0.1%, while the Nasdaq 100 futures added 0.12%.
Later in the day, the U.S. was to publish official data on its trade balance.
During European morning trade, the EURO STOXX 50 climbed 0.3%, France’s CAC 40 added 0.15%, while Germany's DAX 30 gained 0.5%.
Italian luxury goods producer Bulgari saw shares climb 0.8% after it swung to a first quarter profit and said it was optimistic about its growth prospects. LVMH Moet Hennessy Louis Vuitton, which acquired the company in early March, saw shares rise 2.75%.
Shares in German automaker Porsche jumped 3% after Morgan Stanley upgraded the stock to ‘overweight’. Across the sector, Volkswagen saw shares gain 1%, while French automaker Peugeot rose 1.5%.
Meanwhile, uncertainty over Greece's debt situation continued to play on investors' minds, with an anti-austerity strike planned Wednesday.
French Finance Minister Christine Lagarde told Le Figaro newspaper it is hard to see Greece returning to debt markets in 2012 and Europe would have to keep financing countries in difficulty to avoid a costly restructuring.
Shares in Societe Generale slumped 0.9%, Spanish lender Banco Santander declined 1%, while Italy’s largest bank Unicredit fell 0.8%.
In London, the FTSE 100 edged 0.15% lower as markets awaited the Bank of England’s quarterly inflation report later in the day.
Meanwhile, shares in HSBC Holdings slumped 1.1% after it announced plans to reduce costs by GBP1.5 billion to GBP2.1 billion by 2013 as part of a restructuring strategy.
On the upside, retailer Marks and Spencer saw shares jump 3.1% after JP Morgan raised its rating on the stock to ‘overweight’ and lifted its price target by 32%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Cisco Systems and department store operator Macy’s.
The Dow Jones Industrial Average futures pointed to a modest gain of 0.06%, S&P 500 futures indicated an increase of 0.1%, while the Nasdaq 100 futures added 0.12%.
Later in the day, the U.S. was to publish official data on its trade balance.