Investing.com - European stocks opened higher on Wednesday, helped by a rebound in oil prices and as investors awaited the minutes of the Federal Reserve’s March meeting, due later in the day.
During European morning trade, the EURO STOXX 50 gained 0.43%, France’s CAC 40 climbed 0.55%, while Germany’s DAX 30 rose 0.26%.
Investors were eyeing the minutes of the Fed’s March meeting due later Wednesday, for fresh indications on the future path of interest rates.
Energy stocks moved higher as oil prices bounced back late Tuesday after hitting one-month lows.
French oil and gas major Total SA (PA:TOTF) rallied 1.43% and Italy’s ENI (MI:ENI) SpA jumped 1.45%, while Norwegian rival Statoil ASA (OL:STL) advanced 1.47%.
Financial stocks were also on the upside, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.48% and 0.42%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) climbed 0.53% and 1.70%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) surged 2.02% and 4.51% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) advanced 0.67% and 0.71%.
Elsewhere, Hennes & Mauritz AB, H & M ser. B (ST:HMb) gained 0.98% after the clothing retailer said first-quarter sales increased by 9% in local currencies.
In London, FTSE 100 climbed 0.59%, as U.K. lenders tracked their European counterparts higher.
Shares in HSBC Holdings (LON:HSBA) rose 0.36% and the Royal Bank of Scotland (LON:RBS) jumped 1.47%, while Lloyds Banking (LON:LLOY) and Barclays (LON:BARC) rallied 1.63% and 2.11% respectively.
Energy stocks added to gains, as BP (LON:BP) advanced 0.70% and rival company Royal Dutch Shell (LON:RDSa) surged 2.22%.
Mining stocks were also broadly higher, as Glencore (LON:GLEN) advanced 1.53% and Rio Tinto (LON:RIO) climbed 1.70%, while Bhp Billtion rallied 1.93% and Anglo American (LON:AAL) soared 3.10%.
On the downside, shares in easyJet (LON:EZJ) tumbled 2.04% following news more than 170 passengers were left stranded at an airport in the Canary Islands over the weekend after their flight was delayed for over 48 hours.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.41% gain, S&P 500 futures a 0.47% increase, while the Nasdaq 100 futures indicated a 0.47% advance.