Investing.com - European stock markets remained higher on Tuesday, as investors turned to a highly anticipated European Union summit on Wednesday, while concerns over the debt crisis in the euro zone persisted.
During European afternoon trade, the EURO STOXX 50 climbed 1.04%, France’s CAC 40 advanced 1.01%, while Germany’s DAX 30 jumped 0.79%.
Market sentiment found support after Chinese state-run newspaper China Securities Journal said that the nation plans to speed up the approval of infrastructure construction projects to boost economic growth.
Meanwhile, investors were eyeing a meeting of European leaders on Wednesday, with hopes they may agree on measures to bolster investor confidence in the single currency bloc.
France's new President Francois Hollande is expected to push for a joint euro zone bond at the EU meeting, a measure backed by Italy, Spain and the European Commission but opposed by Germany.
Financial stocks remained broadly higher, led by Italian lenders as Banca Carige soared 11.65% after saying it will create a subsidiary to manage 353 branches outside the Liguria region.
Banca Monte dei Paschi also jumped 5.14%, while Italy’s two biggest lenders, Intesa Sanpaolo and Unicredit, climbed 2.54% and 2.10% respectively.
Meanwhile, France’s Societe Generale and BNP Paribas advanced 2.23% and 1.65%, while Germany’s second biggest lender, Commerzbank, rose 0.42%.
Elsewhere, Accor was also one of the session’s biggest gainers, with shares surging 4.80% after Europe’s largest hotel operator said it will sell its budget chain to a fund managed by Blackstone Group LP for USD1.9 billion to pay down debt.
In London, FTSE 100 advanced 1.08%, after data showed that consumer price inflation in the U.K. eased to a two-year low of 3% in April.
Vodafone led gains, up 3.39%, after the mobile-phone company said fourth-quarter service revenue excluding currency swings and acquisitions increased 2.3%.
Mining giant Rio Tinto wasn’t far behind, with shares surging 2.99% after agreeing on Monday to sell its wire and cable business to General Cable Corp for USD185 million in cash.
Meanwhile, Bhp Billiton jumped 2.21% and Anglo American climbed 2.15%, while copper producers Xstrata and Kazakhmys saw shares rise 2.40% and 2.97% respectively.
Financials also remained sharply higher. Shares in the Royal Bank of Scotland surged 2.98% and Lloyds Banking added 2.84%, while HSBC Holdings rose 0.83% and Barclays advanced 0.72%.
On the downside, Homeserve Plc plummeted 23% after saying the Financial Services Authority will investigate “certain historic issues.”
The U.K. provider of emergency-repair services suspended telephone sales and marketing in October after a review showed they didn’t meet its standards.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to rise of 0.01%, S&P 500 futures signaled a 0.02% gain, while the Nasdaq 100 futures indicated a 0.03% increase.
Later in the day, the U.S. was to release industry data on existing home sales.
During European afternoon trade, the EURO STOXX 50 climbed 1.04%, France’s CAC 40 advanced 1.01%, while Germany’s DAX 30 jumped 0.79%.
Market sentiment found support after Chinese state-run newspaper China Securities Journal said that the nation plans to speed up the approval of infrastructure construction projects to boost economic growth.
Meanwhile, investors were eyeing a meeting of European leaders on Wednesday, with hopes they may agree on measures to bolster investor confidence in the single currency bloc.
France's new President Francois Hollande is expected to push for a joint euro zone bond at the EU meeting, a measure backed by Italy, Spain and the European Commission but opposed by Germany.
Financial stocks remained broadly higher, led by Italian lenders as Banca Carige soared 11.65% after saying it will create a subsidiary to manage 353 branches outside the Liguria region.
Banca Monte dei Paschi also jumped 5.14%, while Italy’s two biggest lenders, Intesa Sanpaolo and Unicredit, climbed 2.54% and 2.10% respectively.
Meanwhile, France’s Societe Generale and BNP Paribas advanced 2.23% and 1.65%, while Germany’s second biggest lender, Commerzbank, rose 0.42%.
Elsewhere, Accor was also one of the session’s biggest gainers, with shares surging 4.80% after Europe’s largest hotel operator said it will sell its budget chain to a fund managed by Blackstone Group LP for USD1.9 billion to pay down debt.
In London, FTSE 100 advanced 1.08%, after data showed that consumer price inflation in the U.K. eased to a two-year low of 3% in April.
Vodafone led gains, up 3.39%, after the mobile-phone company said fourth-quarter service revenue excluding currency swings and acquisitions increased 2.3%.
Mining giant Rio Tinto wasn’t far behind, with shares surging 2.99% after agreeing on Monday to sell its wire and cable business to General Cable Corp for USD185 million in cash.
Meanwhile, Bhp Billiton jumped 2.21% and Anglo American climbed 2.15%, while copper producers Xstrata and Kazakhmys saw shares rise 2.40% and 2.97% respectively.
Financials also remained sharply higher. Shares in the Royal Bank of Scotland surged 2.98% and Lloyds Banking added 2.84%, while HSBC Holdings rose 0.83% and Barclays advanced 0.72%.
On the downside, Homeserve Plc plummeted 23% after saying the Financial Services Authority will investigate “certain historic issues.”
The U.K. provider of emergency-repair services suspended telephone sales and marketing in October after a review showed they didn’t meet its standards.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to rise of 0.01%, S&P 500 futures signaled a 0.02% gain, while the Nasdaq 100 futures indicated a 0.03% increase.
Later in the day, the U.S. was to release industry data on existing home sales.