Investing.com – European stock markets were sharply higher on Thursday, as shares in the commodity sector outperformed, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 soared 2.19%, France’s CAC 40 jumped 2.10%, and Germany's DAX surged 1.63%.
Late Wednesday, the Federal Reserve said that it would purchase USD 600 billion of U.S. government bonds over the next eight months in an effort to kick-start a "disappointingly slow" economic recovery.
Following the announcement, commodity sector shares turned sharply higher as oil and metal prices rallied. Shares in the world’s largest mining group BHP Billiton soared 4.99%, the world’s fourth-largest copper producer Xstrata saw shares jump 4.56%, while shares in Rio Tinto gained 3.57%.
Meanwhile, in earnings news, shares in France’s largest lender BNP Paribas soared 4.21% after it said third-quarter net profit rose by 46% to EUR 1.91 billion, up from EUR 1.31 billion a year earlier. The bank said net revenue in the quarter rose more-than-expected, increasing by 1.9% to EUR 10.86 billion.
Elsewhere in the financial sector, shares in French financial service provider Societe Generale jumped 4.32%, Germany’s largest lender Deutsche Bank saw shares rise 2.79%, while Barclays saw shares surge 3.24%.
In London, the FTSE 100 leaped 1.77% as shares in consumer-goods conglomerate Unilever soared 5.64% after it said third-quarter net profit rose by 19% to EUR 1.25 billion, while revenue in the quarter grew by 13% to EUR 11.55 billion.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Kraft Foods and natural gas provider PG&E Corporation.
The Dow Jones Industrial Average futures indicated a gain of 0.57%, S&P 500 futures pointed to an increase of 0.58% and Nasdaq 100 futures indicated a rise of 0.47%.
Later in the day, the U.S. was to publish key weekly data on initial jobless claims.
During European morning trade, the EURO STOXX 50 soared 2.19%, France’s CAC 40 jumped 2.10%, and Germany's DAX surged 1.63%.
Late Wednesday, the Federal Reserve said that it would purchase USD 600 billion of U.S. government bonds over the next eight months in an effort to kick-start a "disappointingly slow" economic recovery.
Following the announcement, commodity sector shares turned sharply higher as oil and metal prices rallied. Shares in the world’s largest mining group BHP Billiton soared 4.99%, the world’s fourth-largest copper producer Xstrata saw shares jump 4.56%, while shares in Rio Tinto gained 3.57%.
Meanwhile, in earnings news, shares in France’s largest lender BNP Paribas soared 4.21% after it said third-quarter net profit rose by 46% to EUR 1.91 billion, up from EUR 1.31 billion a year earlier. The bank said net revenue in the quarter rose more-than-expected, increasing by 1.9% to EUR 10.86 billion.
Elsewhere in the financial sector, shares in French financial service provider Societe Generale jumped 4.32%, Germany’s largest lender Deutsche Bank saw shares rise 2.79%, while Barclays saw shares surge 3.24%.
In London, the FTSE 100 leaped 1.77% as shares in consumer-goods conglomerate Unilever soared 5.64% after it said third-quarter net profit rose by 19% to EUR 1.25 billion, while revenue in the quarter grew by 13% to EUR 11.55 billion.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from Kraft Foods and natural gas provider PG&E Corporation.
The Dow Jones Industrial Average futures indicated a gain of 0.57%, S&P 500 futures pointed to an increase of 0.58% and Nasdaq 100 futures indicated a rise of 0.47%.
Later in the day, the U.S. was to publish key weekly data on initial jobless claims.