Investing.com - European stock markets were higher during early trade on Wednesday, after U.S. President Barack Obama was re-elected for a second term, while investors focus turned to a Greek parliamentary vote later in the day.
During European morning trade, the EURO STOXX 50 rose 0.65%, France’s CAC 40 climbed 0.7%, while Germany’s DAX 30 added 0.5%.
Market sentiment found support after President Obama was declared as winner of the U.S. presidential election by winning 303 electoral votes, more than the 270 needed to secure a second term in the White House.
Republican challenger Mitt Romney won 206 electoral votes.
President Obama now needs to address a so-called “fiscal cliff”, approximately USD600 billion in tax hikes and spending cuts due to come into effect on January 1.
Markets now turned their attention to Greece, where country’s parliament prepared to vote on the latest rounds of austerity measures later in the day, which could determine if the debt-strapped country receives its next tranche of financial aid.
In earnings news, BNP Paribas saw shares rally 5.2% after reporting third-quarter net income more than doubled to EUR1.32 billion, above market expectations.
Dutch financial-services firm ING Group rose 0.9%, following the release of a well-received third-quarter earnings statement. The company also said it will eliminate 2,350 jobs in its banking and insurance units as part of cost-cutting efforts.
Later in the session, the euro zone was to produce official data on retail sales, while Germany was to produce official data on industrial production.
Meanwhile, in London, the commodity-heavy FTSE 100 added 0.3%, supported by gains in miners.
Rio Tinto and BHP Billiton rose 1% and 0.5% respectively, while copper miner Kazakhmys advanced 1.75%.
Luxury goods retailer Burberry gained 0.8% after the firm posted better-than-expected revenue and margins figures for the first half of the year.
Elsewhere, in the U.S., equity markets pointed to a higher open after President Barack Obama defeated Republican Mitt Romney to secure a second term.
The Dow Jones Industrial Average futures pointed to a gain of 0.15%, S&P 500 futures signaled a 0.2% increase, while the Nasdaq 100 futures indicated a 0.15% rise.
Later Wednesday, the U.S. was to produce official data on crude oil inventories.
During European morning trade, the EURO STOXX 50 rose 0.65%, France’s CAC 40 climbed 0.7%, while Germany’s DAX 30 added 0.5%.
Market sentiment found support after President Obama was declared as winner of the U.S. presidential election by winning 303 electoral votes, more than the 270 needed to secure a second term in the White House.
Republican challenger Mitt Romney won 206 electoral votes.
President Obama now needs to address a so-called “fiscal cliff”, approximately USD600 billion in tax hikes and spending cuts due to come into effect on January 1.
Markets now turned their attention to Greece, where country’s parliament prepared to vote on the latest rounds of austerity measures later in the day, which could determine if the debt-strapped country receives its next tranche of financial aid.
In earnings news, BNP Paribas saw shares rally 5.2% after reporting third-quarter net income more than doubled to EUR1.32 billion, above market expectations.
Dutch financial-services firm ING Group rose 0.9%, following the release of a well-received third-quarter earnings statement. The company also said it will eliminate 2,350 jobs in its banking and insurance units as part of cost-cutting efforts.
Later in the session, the euro zone was to produce official data on retail sales, while Germany was to produce official data on industrial production.
Meanwhile, in London, the commodity-heavy FTSE 100 added 0.3%, supported by gains in miners.
Rio Tinto and BHP Billiton rose 1% and 0.5% respectively, while copper miner Kazakhmys advanced 1.75%.
Luxury goods retailer Burberry gained 0.8% after the firm posted better-than-expected revenue and margins figures for the first half of the year.
Elsewhere, in the U.S., equity markets pointed to a higher open after President Barack Obama defeated Republican Mitt Romney to secure a second term.
The Dow Jones Industrial Average futures pointed to a gain of 0.15%, S&P 500 futures signaled a 0.2% increase, while the Nasdaq 100 futures indicated a 0.15% rise.
Later Wednesday, the U.S. was to produce official data on crude oil inventories.