Investing.com - European stocks were higher on Monday, supported by upbeat economic data from China and hopes that Spain will soon formally request a sovereign bailout.
During European morning trade, the EURO STOXX 50 jumped 0.99%, France’s CAC 40 advanced 0.99%, while Germany’s DAX 30 climbed 0.76%.
Sentiment improved after official data over the weekend showed that China’s trade surplus widened in September as export demand increased, easing concerns over a slowdown in the world’s second largest economy.
Bit investors remained cautious as Madrid did not request financial aid over the weekend and a request for a bailout is now seen as increasingly unlikely ahead of regional elections on October 21.
Elsewhere in the euro zone, Greek Prime Minister Antonis Samaras said Sunday his country was facing the "last hurdle" before recovery and expressed confidence that the government will reach an agreement with international creditors ahead of Thursday’s European Union summit.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.56% and 1.38%, while Germany's Deutsche Bank and Commerzbank advanced 1.32% and 1.63% respectively.
Peripheral lenders added to gains, with shares in Italian banks Unicredit and Intesa Sanpaolo rallying 1.45% and 1.82%, while Spain's BBVA and Banco Santander climbed 0.84% and 1.74%.
Elsewhere, Finland's Orkla gained 6.93% after agreeing with Norsk Hydro to combine units to provide aluminum profiles, building systems and tubing in North America and Europe.
According to a Bloomber report, the combined company will have sales of about USD8.2 billion and some 25,000 employees.
Also on the upside, Europe’s second-largest clothing retailer, H&M surged 1.70% after reporting a 15% increase in total sales for September.
In London, FTSE 100 rose 0.35%, after data showed that house prices in the U.K. rose 3.5% in October.
Financial stocks were mostly higher, as shares in HSBC Holdings added 0.39% and Lloyds Banking rallied 1.46%, while Barclays surged 1.55%. The Royal Bank of Scoland underperformed on the other hand, with shares dropping 0.85%.
On the downside, mining giants BHP Billiton and Rio Tinto declined 0.13% and 0.89% respectively, while copper producers Xstrata and Kazakhmys retreated 0.22% and 1.33%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.32% rise, S&P 500 futures signaled a 0.43% gain, while the Nasdaq 100 futures indicated a 0.62% increase.
Later in the day, the U.S. was to release official data on retail sales, as well as a report on business inventories.
During European morning trade, the EURO STOXX 50 jumped 0.99%, France’s CAC 40 advanced 0.99%, while Germany’s DAX 30 climbed 0.76%.
Sentiment improved after official data over the weekend showed that China’s trade surplus widened in September as export demand increased, easing concerns over a slowdown in the world’s second largest economy.
Bit investors remained cautious as Madrid did not request financial aid over the weekend and a request for a bailout is now seen as increasingly unlikely ahead of regional elections on October 21.
Elsewhere in the euro zone, Greek Prime Minister Antonis Samaras said Sunday his country was facing the "last hurdle" before recovery and expressed confidence that the government will reach an agreement with international creditors ahead of Thursday’s European Union summit.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.56% and 1.38%, while Germany's Deutsche Bank and Commerzbank advanced 1.32% and 1.63% respectively.
Peripheral lenders added to gains, with shares in Italian banks Unicredit and Intesa Sanpaolo rallying 1.45% and 1.82%, while Spain's BBVA and Banco Santander climbed 0.84% and 1.74%.
Elsewhere, Finland's Orkla gained 6.93% after agreeing with Norsk Hydro to combine units to provide aluminum profiles, building systems and tubing in North America and Europe.
According to a Bloomber report, the combined company will have sales of about USD8.2 billion and some 25,000 employees.
Also on the upside, Europe’s second-largest clothing retailer, H&M surged 1.70% after reporting a 15% increase in total sales for September.
In London, FTSE 100 rose 0.35%, after data showed that house prices in the U.K. rose 3.5% in October.
Financial stocks were mostly higher, as shares in HSBC Holdings added 0.39% and Lloyds Banking rallied 1.46%, while Barclays surged 1.55%. The Royal Bank of Scoland underperformed on the other hand, with shares dropping 0.85%.
On the downside, mining giants BHP Billiton and Rio Tinto declined 0.13% and 0.89% respectively, while copper producers Xstrata and Kazakhmys retreated 0.22% and 1.33%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.32% rise, S&P 500 futures signaled a 0.43% gain, while the Nasdaq 100 futures indicated a 0.62% increase.
Later in the day, the U.S. was to release official data on retail sales, as well as a report on business inventories.