Investing.com – European stocks posted sharp gains on Wednesday, amid speculation that European policy makers were set to intervene to prevent the region’s debt crisis spreading, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 surged 1.51%; France’s CAC 40 gained 0.86%; while Germany's DAX jumped 1.57%.
Shares in the financial sector were broadly higher on speculation that the European Central Bank would delay its exit from emergency liquidity measures, after ECB President Jean-Claude Trichet, said Tuesday that European policymakers needed to assert authority to fight “demanding” market conditions.
Shares in France’s largest lender Societe Generale rallied 3.72%, Italy’s biggest bank Unicredit saw shares jump 2.20%, while shares in Deutsche Bank rallied 2.01% after the stock was upgraded by JP-Morgan Chase.
Elsewhere, shares in Spain’s largest lender Banco Santander jumped 5.07%, while the country’s second-biggest bank BBVA saw shares soar 4.99% after Deutsche Bank CEO Josef Ackermann said, “investors mistrust of Spain is unjustified and problems in the banking industry are manageable.”
Meanwhile, shares in Germany’s largest retailer METRO rose 1.04% after official data showed that German retail sales rose significantly more-than-expected in October.
In addition, shares in Europe’s largest automaker Volkswagen jumped 4.66% after industry data said German auto sales could total 2.9 million vehicles in 2011. Rivals BMW saw shares surge 1.93%, while shares in Daimler gained 1.32%.
Elsewhere, in London, the commodity-heavy FTSE 100 rallied 1.23% as metal and crude oil prices gained. Shares in the world’s fourth-largest copper producer Xstrata soared 3.95%, mining giant BHP Billiton saw shares jump 2.20%, while oil and gas giant British Petroleum saw shares surge 1.21%.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.94%, S&P 500 futures indicated a rise of 1.06% and Nasdaq 100 futures pointed to an increase of 0.83%.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official data on manufacturing activity. In addition, the Federal Reserve was to publish its Beige Book.
During European morning trade, the EURO STOXX 50 surged 1.51%; France’s CAC 40 gained 0.86%; while Germany's DAX jumped 1.57%.
Shares in the financial sector were broadly higher on speculation that the European Central Bank would delay its exit from emergency liquidity measures, after ECB President Jean-Claude Trichet, said Tuesday that European policymakers needed to assert authority to fight “demanding” market conditions.
Shares in France’s largest lender Societe Generale rallied 3.72%, Italy’s biggest bank Unicredit saw shares jump 2.20%, while shares in Deutsche Bank rallied 2.01% after the stock was upgraded by JP-Morgan Chase.
Elsewhere, shares in Spain’s largest lender Banco Santander jumped 5.07%, while the country’s second-biggest bank BBVA saw shares soar 4.99% after Deutsche Bank CEO Josef Ackermann said, “investors mistrust of Spain is unjustified and problems in the banking industry are manageable.”
Meanwhile, shares in Germany’s largest retailer METRO rose 1.04% after official data showed that German retail sales rose significantly more-than-expected in October.
In addition, shares in Europe’s largest automaker Volkswagen jumped 4.66% after industry data said German auto sales could total 2.9 million vehicles in 2011. Rivals BMW saw shares surge 1.93%, while shares in Daimler gained 1.32%.
Elsewhere, in London, the commodity-heavy FTSE 100 rallied 1.23% as metal and crude oil prices gained. Shares in the world’s fourth-largest copper producer Xstrata soared 3.95%, mining giant BHP Billiton saw shares jump 2.20%, while oil and gas giant British Petroleum saw shares surge 1.21%.
The outlook for U.S. equity markets, meanwhile, was upbeat. The Dow Jones Industrial Average futures pointed to a gain of 0.94%, S&P 500 futures indicated a rise of 1.06% and Nasdaq 100 futures pointed to an increase of 0.83%.
Later in the day, the U.S. was to release a report on ADP non-farm employment change, as well as official data on manufacturing activity. In addition, the Federal Reserve was to publish its Beige Book.