Investing.com - European stock markets were sharply higher on Thursday, as sentiment found support amid hopes for a successful Greek debt swap deal later in the day.
During European morning trade, the EURO STOXX 50 gained 0.80%, France’s CAC 40 jumped 1.08%, while Germany’s DAX 30 advanced 0.77%.
Prospects for a successful Greek deal rose after a group of major banks and funds said they would take part in the swap. As of late Wednesday, about 52% of the EUR206 billion bonds up for restructuring had been pledged.
A positive outcome should clear the way for a bailout package and help Greece avert a messy debt default.
Financial stocks were sharply higher, led by Dutch lender ING Group whose shares surged 2.62%.
France’s Societe Generale and BNP Paribas climbed 2.40% and 1.98% respectively, while German Deutsche Bank and Commerzbank jumped 2.32% and 2.22%.
Meanwhile, EADS, the maker of Airbus passenger jets skyrocketed 9.33% after agreeing to pay a dividend of 45 cents a share, more than doubling the payout from last year and exceeding analyst estimates of a 30-cent dividend.
Deutsche Post also added to gains as shares climbed 1.97% after Europe’s largest postal service said profit in 2012 will rise as much as 6.6% thanks to growth in global trade.
In London, commodity-heavy FTSE 100 climbed 0.59%, boosted by strong gains in the mining sector.
Mining giants Rio Tinto and Bhp Billiton led gains, with shares jumping 1.69% and 1.62% respectively, while copper producers Xstrata and Kazakhmys were also on the upside, advancing 1.09% and 2.49%.
Meanwhile, U.K. lenders tracked their European counterparts higher. Shares in HSBC Holdings added 0.64% and Lloyds Banking rose 0.60%, while Barclays and the Royal Bank of Scotland gained 0.75% and 0.54%.
Elsewhere, insurance company Aviva rallied 2.16% after the company said its operating profit fell 2% to GBP2.5 billion.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.28%, S&P 500 futures signaled a 0.33% increase, while the Nasdaq 100 futures indicated a 0.25% gain.
Later in the day, the European Central Bank was to hold its policy setting meeting, which was to be followed by a closely watched press conference.
Meanwhile, Germany was to release official data on industrial production and the U.S. was to produce government data on initial jobless claims.
During European morning trade, the EURO STOXX 50 gained 0.80%, France’s CAC 40 jumped 1.08%, while Germany’s DAX 30 advanced 0.77%.
Prospects for a successful Greek deal rose after a group of major banks and funds said they would take part in the swap. As of late Wednesday, about 52% of the EUR206 billion bonds up for restructuring had been pledged.
A positive outcome should clear the way for a bailout package and help Greece avert a messy debt default.
Financial stocks were sharply higher, led by Dutch lender ING Group whose shares surged 2.62%.
France’s Societe Generale and BNP Paribas climbed 2.40% and 1.98% respectively, while German Deutsche Bank and Commerzbank jumped 2.32% and 2.22%.
Meanwhile, EADS, the maker of Airbus passenger jets skyrocketed 9.33% after agreeing to pay a dividend of 45 cents a share, more than doubling the payout from last year and exceeding analyst estimates of a 30-cent dividend.
Deutsche Post also added to gains as shares climbed 1.97% after Europe’s largest postal service said profit in 2012 will rise as much as 6.6% thanks to growth in global trade.
In London, commodity-heavy FTSE 100 climbed 0.59%, boosted by strong gains in the mining sector.
Mining giants Rio Tinto and Bhp Billiton led gains, with shares jumping 1.69% and 1.62% respectively, while copper producers Xstrata and Kazakhmys were also on the upside, advancing 1.09% and 2.49%.
Meanwhile, U.K. lenders tracked their European counterparts higher. Shares in HSBC Holdings added 0.64% and Lloyds Banking rose 0.60%, while Barclays and the Royal Bank of Scotland gained 0.75% and 0.54%.
Elsewhere, insurance company Aviva rallied 2.16% after the company said its operating profit fell 2% to GBP2.5 billion.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.28%, S&P 500 futures signaled a 0.33% increase, while the Nasdaq 100 futures indicated a 0.25% gain.
Later in the day, the European Central Bank was to hold its policy setting meeting, which was to be followed by a closely watched press conference.
Meanwhile, Germany was to release official data on industrial production and the U.S. was to produce government data on initial jobless claims.