Investing.com - European stock markets were higher on Wednesday, after reassuring comments by European Central Bank President Mario Draghi, while as investors eyed a statement by the Federal Reserve later in the day.
During European morning trade, the EURO STOXX 50 climbed 0.54%, France’s CAC 40 rose 0.37%, while Germany’s DAX 30 advanced 0.66%.
Speaking before the European Parliament's Economic and Monetary Committee, in Brussels, earlier ECB President Draghi said that the central bank is confident the wider economy will eventually benefit from its cheap three-year loans to euro zone banks.
Market sentiment found mild support on Tuesday as a successful bond auction sent yields on Dutch debt lower, a day after the government in the Netherlands collapsed in a crisis over budget cuts.
However, an auction of Spanish short term government debt saw the country’s borrowing costs almost double, while Italy’s borrowing costs rose to the highest level since January after an auction of government bills.
Financial stocks were sharply higher, led by Italian lender Intesa Sanpaolo, up 4.01%, and Unicredit, whose shares jumped 3.79%.
France’s Societe Generale and BNP Paribas also climbed 2.79% and 1.92% respectively, while German lenders Deutsche Bank and Commerzbank advanced 2.42% and 1.68%.
Meanwhile, Credit Suisse, Switzerland’s second-largest lender, saw shares surge 1.10% after reporting first-quarter profit of CHF44 million. Analysts had called for a loss of CHF297.9 million.
Spain’s BBVA jumped 2.28% after the bank reported first- quarter profit of EUR1 billion, topping the average analyst estimate that called for EUR936.7 million.
Elsewhere, Peugeot Citroen added to gains, soaring 3.49%, as Europe’s second-largest carmaker posted first-quarter revenue of EUR14.3 billion euros, topping estimates. The company said however that the competitive environment remained “difficult” and predicted it to last through the first half of the year.
In London, FTSE 100 rose 0.12%, as U.K. lenders tracked their European counterparts higher.
Shares in Barclays climbed 1.52% and the Royal Bank of Scotland added 1.55%, while Lloyds Banking advanced 1.35%.
Mining giants Rio Tinto and Bhp Billiton contributed to gains, with shares rising 0.71% and 0.01%, while copper producers Xstrata and Kazakhmys advanced 0.35% and 1.17% respectively.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to rise of 0.37%, S&P 500 futures signaled a 0.55% increase, while the Nasdaq 100 futures indicated a 1.55% surge.
Later in the day, the U.S. was to publish government data on durable goods orders and crude oil stockpiles, while the Federal Reserve was to announce its benchmark interest rate and release its rate statement.
During European morning trade, the EURO STOXX 50 climbed 0.54%, France’s CAC 40 rose 0.37%, while Germany’s DAX 30 advanced 0.66%.
Speaking before the European Parliament's Economic and Monetary Committee, in Brussels, earlier ECB President Draghi said that the central bank is confident the wider economy will eventually benefit from its cheap three-year loans to euro zone banks.
Market sentiment found mild support on Tuesday as a successful bond auction sent yields on Dutch debt lower, a day after the government in the Netherlands collapsed in a crisis over budget cuts.
However, an auction of Spanish short term government debt saw the country’s borrowing costs almost double, while Italy’s borrowing costs rose to the highest level since January after an auction of government bills.
Financial stocks were sharply higher, led by Italian lender Intesa Sanpaolo, up 4.01%, and Unicredit, whose shares jumped 3.79%.
France’s Societe Generale and BNP Paribas also climbed 2.79% and 1.92% respectively, while German lenders Deutsche Bank and Commerzbank advanced 2.42% and 1.68%.
Meanwhile, Credit Suisse, Switzerland’s second-largest lender, saw shares surge 1.10% after reporting first-quarter profit of CHF44 million. Analysts had called for a loss of CHF297.9 million.
Spain’s BBVA jumped 2.28% after the bank reported first- quarter profit of EUR1 billion, topping the average analyst estimate that called for EUR936.7 million.
Elsewhere, Peugeot Citroen added to gains, soaring 3.49%, as Europe’s second-largest carmaker posted first-quarter revenue of EUR14.3 billion euros, topping estimates. The company said however that the competitive environment remained “difficult” and predicted it to last through the first half of the year.
In London, FTSE 100 rose 0.12%, as U.K. lenders tracked their European counterparts higher.
Shares in Barclays climbed 1.52% and the Royal Bank of Scotland added 1.55%, while Lloyds Banking advanced 1.35%.
Mining giants Rio Tinto and Bhp Billiton contributed to gains, with shares rising 0.71% and 0.01%, while copper producers Xstrata and Kazakhmys advanced 0.35% and 1.17% respectively.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to rise of 0.37%, S&P 500 futures signaled a 0.55% increase, while the Nasdaq 100 futures indicated a 1.55% surge.
Later in the day, the U.S. was to publish government data on durable goods orders and crude oil stockpiles, while the Federal Reserve was to announce its benchmark interest rate and release its rate statement.