Investing.com - European stocks were mixed to higher on Friday, as hopes a U.S. budget deal will be concluded before the upcoming debt ceiling deadline supported market sentiment.
During European morning trade, the EURO STOXX 50 edged up 0.12%, France’s CAC 40 slipped 0.11%, while Germany’s DAX 30 added 0.23%.
No deal emerged after a 90-minute meeting between President Barack Obama and Republican leaders on Thursday, but talks continued into the night in an effort to reopen the government and avoid a possible U.S. debt default.
President Obama has demanded Republicans raise the U.S. debt ceiling and reopen the government before negotiations on future fiscal policy can take place.
U.S. Treasury Secretary Jack Lew reiterated Thursday that the U.S. will reach its debt ceiling on October 17 and warned that the political crisis is starting to hurt the economy. The comments came during testimony to the Senate finance committee.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale gained 0.66% and 0.74%, while Germany's Deutsche Bank added 0.20%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA edged up 0.08% and 0.11% respectively. Italy's Unicredit and Intesa Sanpaolo underperformed however, down 0.01% and 0.67%.
Elsewhere, Genmab surged 2.20% after the Danish developer of cancer drugs said its ofatumumab drug showed a significant reduction in cumulative number of new brain lesions in a multiple sclerosis study.
In London, FTSE 100 rose 0.25%.
Financial stocks were mixed, as shares in the Royal Bank of Scotland slipped 0.25% and Barclays eased 0.07%, while HSBC Holdings and Lloyds Banking advanced 0.28% and 1.36% respectively.
Meanwhile, mining stocks were trending mostly higher. Rio Tinto and BHP Billiton climbed 0.33% and 0.50% respectively, while Glencore Xstrata saw shares jump 0.96%.
Adding to gains, Royal Mail skyrocketed 35.91% after raising GBP1.7 billion in an initial public offering, putting its market capitalization at GBP3.3 billion.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.03% gain, S&P 500 futures signaled a 0.05% dip, while the Nasdaq 100 futures indicated a 0.04% rise.
Later in the day, the University of Michigan was to release preliminary data on consumer sentiment.
During European morning trade, the EURO STOXX 50 edged up 0.12%, France’s CAC 40 slipped 0.11%, while Germany’s DAX 30 added 0.23%.
No deal emerged after a 90-minute meeting between President Barack Obama and Republican leaders on Thursday, but talks continued into the night in an effort to reopen the government and avoid a possible U.S. debt default.
President Obama has demanded Republicans raise the U.S. debt ceiling and reopen the government before negotiations on future fiscal policy can take place.
U.S. Treasury Secretary Jack Lew reiterated Thursday that the U.S. will reach its debt ceiling on October 17 and warned that the political crisis is starting to hurt the economy. The comments came during testimony to the Senate finance committee.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale gained 0.66% and 0.74%, while Germany's Deutsche Bank added 0.20%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA edged up 0.08% and 0.11% respectively. Italy's Unicredit and Intesa Sanpaolo underperformed however, down 0.01% and 0.67%.
Elsewhere, Genmab surged 2.20% after the Danish developer of cancer drugs said its ofatumumab drug showed a significant reduction in cumulative number of new brain lesions in a multiple sclerosis study.
In London, FTSE 100 rose 0.25%.
Financial stocks were mixed, as shares in the Royal Bank of Scotland slipped 0.25% and Barclays eased 0.07%, while HSBC Holdings and Lloyds Banking advanced 0.28% and 1.36% respectively.
Meanwhile, mining stocks were trending mostly higher. Rio Tinto and BHP Billiton climbed 0.33% and 0.50% respectively, while Glencore Xstrata saw shares jump 0.96%.
Adding to gains, Royal Mail skyrocketed 35.91% after raising GBP1.7 billion in an initial public offering, putting its market capitalization at GBP3.3 billion.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.03% gain, S&P 500 futures signaled a 0.05% dip, while the Nasdaq 100 futures indicated a 0.04% rise.
Later in the day, the University of Michigan was to release preliminary data on consumer sentiment.