Investing.com - European stock markets remained higher on Thursday, as market sentiment found support after a successful Spanish bond auction although worries over the debt crisis in the euro zone continued to weigh.
During European afternoon trade, the EURO STOXX 50 surged 1.25%, France’s CAC 40 climbed 1.05%, while Germany’s DAX 30 jumped 1.27%.
Spain’s Treasury sold EUR6 billion of medium-and-long-term bonds earlier in the day, far surpassing a target of EUR3.5 billion.
The country sold EUR2.5 billion of five-year bonds at an average yield of 4.02%, down sharply from 5.27% at a similar auction last month. Spain also auctioned EUR1.4 billion in ten-year bonds at a yield of 5.54%, compared to 6.97% at a November bond sale.
Bu sentiment remained under pressure after the European Central Bank’s monthly report said the debt crisis in the region still posed a substantial threat to the economic outlook.
Financial stocks remained sharply higher as shares in Dutch lender ING Group surged 2.88% and German Deutsche Bank soared 2.04%, while Societe Generale and BNP Paribas climbed 1.77% and 0.61% respectively.
Credit Agricole, however, was on the downside, plunging 2.84% after warning late on Wednesday that it would post a loss for 2011 and said it would write off EUR2.5 billion worth of assets and cut 2,350 jobs.
Fitch ratings agency downgraded Credit Agricole's Long-term Issuer Default Rating to A-plus from AA-minus.
In London, FTSE 100 advanced 0.85%, boosted by strong gains in the insurance sector.
Insurance group Old Mutual surged 10.45% after the company announced plans to sell its Nordic unit for $3.2 billion.
Elsewhere, copper producer Xstrata soared 2.94%, extending earlier gains, while Kazakhmys saw shares climb 1.59%.
Meanwhile, mining giants Rio Tinto and Bhp Billiton advanced 0.80% and 0.69%, while Anglo American climbed 1.49%.
The financial sector also contributed to gains as shares in the Royal Bank of Scotland surged 3.03% and Barclays jumped 2.14%, while Lloyds Banking and HSBC Holdings soared 1.60% and 0.68% respectively.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.63%, S&P 500 futures signaled a 0.69% increase, while the Nasdaq 100 futures indicated a 0.71% gain.
Also Thursday, preliminary data showed that manufacturing activity in the euro zone rose unexpectedly in December, climbing to a two-month high, while a separate report showed that consumer price inflation in the euro zone was unchanged at 3.0% in December.
During European afternoon trade, the EURO STOXX 50 surged 1.25%, France’s CAC 40 climbed 1.05%, while Germany’s DAX 30 jumped 1.27%.
Spain’s Treasury sold EUR6 billion of medium-and-long-term bonds earlier in the day, far surpassing a target of EUR3.5 billion.
The country sold EUR2.5 billion of five-year bonds at an average yield of 4.02%, down sharply from 5.27% at a similar auction last month. Spain also auctioned EUR1.4 billion in ten-year bonds at a yield of 5.54%, compared to 6.97% at a November bond sale.
Bu sentiment remained under pressure after the European Central Bank’s monthly report said the debt crisis in the region still posed a substantial threat to the economic outlook.
Financial stocks remained sharply higher as shares in Dutch lender ING Group surged 2.88% and German Deutsche Bank soared 2.04%, while Societe Generale and BNP Paribas climbed 1.77% and 0.61% respectively.
Credit Agricole, however, was on the downside, plunging 2.84% after warning late on Wednesday that it would post a loss for 2011 and said it would write off EUR2.5 billion worth of assets and cut 2,350 jobs.
Fitch ratings agency downgraded Credit Agricole's Long-term Issuer Default Rating to A-plus from AA-minus.
In London, FTSE 100 advanced 0.85%, boosted by strong gains in the insurance sector.
Insurance group Old Mutual surged 10.45% after the company announced plans to sell its Nordic unit for $3.2 billion.
Elsewhere, copper producer Xstrata soared 2.94%, extending earlier gains, while Kazakhmys saw shares climb 1.59%.
Meanwhile, mining giants Rio Tinto and Bhp Billiton advanced 0.80% and 0.69%, while Anglo American climbed 1.49%.
The financial sector also contributed to gains as shares in the Royal Bank of Scotland surged 3.03% and Barclays jumped 2.14%, while Lloyds Banking and HSBC Holdings soared 1.60% and 0.68% respectively.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.63%, S&P 500 futures signaled a 0.69% increase, while the Nasdaq 100 futures indicated a 0.71% gain.
Also Thursday, preliminary data showed that manufacturing activity in the euro zone rose unexpectedly in December, climbing to a two-month high, while a separate report showed that consumer price inflation in the euro zone was unchanged at 3.0% in December.