Europe stocks gain ahead of dual rate decisions; DAX up 0.39%
Investing.com
Published Aug 05, 2010 05:32AM ET
Updated Aug 05, 2010 08:24AM ET
During European morning trade, the EURO STOXX 50 rose 0.65%; France’s CAC 40 advanced 0.88% while Germany's DAX gained 0.39%.
The ECB and the BoE were both expected to leave interest rates on hold at record lows of 1.0% and 0.5% respectively.
European lenders reported earning for a second day, with mixed results. Shares in Barclay's, the U.K.'s third largest bank tumbled 2.79% after its full year forecast was thrown into doubt as the bank reported a 29% rise in first-half profits.
Germany's Commerzbank shares slid 0.24% after second-quarter profits surpassed expectations but Belgian lender KBC advanced 4.07% after the firm's profit rose 35% to EUR 554 million over the quarter.
Elsewhere, household goods and food-producing giant Unilever's shares fell 2.79% after the company reported a 39% jump in second-quarter net profits but said the economic environment was challenging.
In London, the FTSE 100 gained 0.30% as insurance stocks were in demand after Aviva surged 5.54% following significantly better-than-expected profits and an upwardly revised full-year outlook.
The outlook for U.S. equity markets, meanwhile, was upbeat: Dow Jones Industrial Average futures indicated a gain of 0.05%, S&P 500 futures pointed to a rise of 0.13% and Nasdaq 100 futures indicated an increase of 0.04%.
Later in the day, the U.S. was to release key data on initial jobless claims.
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Written By: Investing.com
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