(MENAFN- FxPro) European stocks opened sharply higher on Thursday, as sentiment improved after Greece's third bailout was approved by parliament and as markets eyed final euro zone inflation data, as well as the European Central Bank's rate statement due later in the day.
During European morning trade, the EURO STOXX 50 jumped 0.96%, France's CAC 40 advanced 0.83%, while Germany's DAX 30 rallied 1.02%.
European equities strengthened after Greece's parliament approved late Wednesday the bailout package presented by prime minister Alexis Tsipras.
Tsipras can now begin working with Greece's European creditors to obtain emergency funding, in exchange for a series of economic reforms.
The vote came as violent protests erupted in front the Greek parliament in Athens on Wednesday evening contesting the bailout package.
Financial stocks were mostly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) rallied 1.67% and 1.37%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) jumped 1.33% and 1.87%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) advanced 1.07% and 1.33% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) gained 0.29% and 1.40%.
Swatch Group (SIX:UHR) added to gains, with shares surging 4.66% after the Swiss company posted first-half profit that exceeded analysts' estimates and forecast a strong end to the year.
Elsewhere, Volkswagen (XETRA:VOWG) AG climbed 0.68% and Renault (PARIS:RENA) jumped 1.71% after data showed that European car sales growth last month accelerated to the fastest pace since 2009.
In London, FTSE 100 rose 0.39%, as U.K. lenders tracked their European counterparts higher.
Shares in Lloyds Banking (LONDON:LLOY) and HSBC Holdings (LONDON:HSBA) advanced 0.39% and 0.44%, while Barclays (LONDON:BARC) climbed 0.61% and the Royal Bank of Scotland (LONDON:RBS) outperformed with shares rallying 1.30%.
Meanwhile, mining stocks were broadly lower. Glencore Xstrata (LONDON:GLEN) saw shares edge down 0.15% and Fresnillo (LONDON:FRES) dropped 0.41%, while Randgold Resources (LONDON:RRS) and Anglo American (LONDON:AAL) lost 0.46% and 0.47% respectively.
Elsewhere, Sports Direct (LONDON:SPD) led losses on the index, with shares tumbling 1.26%, after Britain's biggest sporting goods retailer posted a 21% increase in profit but said it would cut its bonus scheme earnings target for 2016 after failing to make the acquisitions necessary to lift sales.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.28% rise, S&P 500 futures signaled a 0.32% increase, while the Nasdaq 100 futures indicated a 0.29% gain.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.