Investing.com - European stocks extended gains on Tuesday, as positive euro zone economic data boosted market sentiment, while investors eyed the Federal Reserve's policy statement later in the week.
During European afternoon trade, the EURO STOXX 50 advanced 0.60%, France’s CAC 40 rose 0.50%, while Germany’s DAX 30 climbed 0.53%.
Data showed that the German ZEW index of economic sentiment improved unexpectedly in December, rising to 6.9 from a reading of minus 15.7 the previous month, re-entering positive territory for the first time since March.
Separately, the ZEW index of economic sentiment in the euro zone improved to 7.6 this month from minus 2.6 in November, beating expectations for a reading of 0.1.
Sentiment also found some support after Italian Prime Minister Mario Monti played down fears over an imminent resignation, saying he was focused on "completing his mandate" before 2013 elections.
Meanwhile, investors were awaiting fresh developments in negotiations to avoid the U.S. fiscal cliff amid concerns that the automatic tax hikes and spending cuts due to take effect in early 2013 could derail the U.S. recovery.
Financial stocks remained mostly lower, as shares in French lender BNP Paribas fell 0.32%, while Germany's Deutsche Bank eased 0.03% and Commerzbank slipped 0.07%. Societe Generale overperformed on the other hand, climbing 0.59%.
Meanwhile, ThyssenKrupp surged 6.22%, even as Germany’s biggest steelmaker said after the market closed on Monday that its net loss widened to EUR4.7 billion in the year ending September 30 from EUR1.29 billion a year earlier.
In London, FTSE 100 added 0.16%.
Whitbread was one of the session's top gainers, with shares rallying 3.89%, after the owner of Premier Inn budget hotels and Costa Coffee shops said revenue growth accelerated as the U.K. cafe market strengthened.
Imagination Technologies Group extended earlier gains, surging 4.44%, after Deutsche Bank AG upgraded the U.K. chip designer to buy from hold.
Elsewhere, mining stocks turned broadly higher, as shares in Rio Tinto and BHP Billiton jumped 0.50% and 1.58%, while copper producer Xstrata advanced 0.56%.
In the financial sector, stocks were mixed. The Royal Bank of Scotland inched down 0.03% and Lloyds Banking retreated 0.64%, while Barclays and HSBC Holdings added 0.01% and 0.44% respectively.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.19% rise, S&P 500 futures signaled a 0.21% gain, while the Nasdaq 100 futures indicated a 0.20% increase.
Markets were also jittery amid expectations that the Federal Reserve will announce further easing measures at the conclusion of Wednesday’s policy meeting.
During European afternoon trade, the EURO STOXX 50 advanced 0.60%, France’s CAC 40 rose 0.50%, while Germany’s DAX 30 climbed 0.53%.
Data showed that the German ZEW index of economic sentiment improved unexpectedly in December, rising to 6.9 from a reading of minus 15.7 the previous month, re-entering positive territory for the first time since March.
Separately, the ZEW index of economic sentiment in the euro zone improved to 7.6 this month from minus 2.6 in November, beating expectations for a reading of 0.1.
Sentiment also found some support after Italian Prime Minister Mario Monti played down fears over an imminent resignation, saying he was focused on "completing his mandate" before 2013 elections.
Meanwhile, investors were awaiting fresh developments in negotiations to avoid the U.S. fiscal cliff amid concerns that the automatic tax hikes and spending cuts due to take effect in early 2013 could derail the U.S. recovery.
Financial stocks remained mostly lower, as shares in French lender BNP Paribas fell 0.32%, while Germany's Deutsche Bank eased 0.03% and Commerzbank slipped 0.07%. Societe Generale overperformed on the other hand, climbing 0.59%.
Meanwhile, ThyssenKrupp surged 6.22%, even as Germany’s biggest steelmaker said after the market closed on Monday that its net loss widened to EUR4.7 billion in the year ending September 30 from EUR1.29 billion a year earlier.
In London, FTSE 100 added 0.16%.
Whitbread was one of the session's top gainers, with shares rallying 3.89%, after the owner of Premier Inn budget hotels and Costa Coffee shops said revenue growth accelerated as the U.K. cafe market strengthened.
Imagination Technologies Group extended earlier gains, surging 4.44%, after Deutsche Bank AG upgraded the U.K. chip designer to buy from hold.
Elsewhere, mining stocks turned broadly higher, as shares in Rio Tinto and BHP Billiton jumped 0.50% and 1.58%, while copper producer Xstrata advanced 0.56%.
In the financial sector, stocks were mixed. The Royal Bank of Scotland inched down 0.03% and Lloyds Banking retreated 0.64%, while Barclays and HSBC Holdings added 0.01% and 0.44% respectively.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.19% rise, S&P 500 futures signaled a 0.21% gain, while the Nasdaq 100 futures indicated a 0.20% increase.
Markets were also jittery amid expectations that the Federal Reserve will announce further easing measures at the conclusion of Wednesday’s policy meeting.