European stocks reported a climb in recent in benchmark indexes as EURO STOXX 50 raised 1.34%, CAC 40 jumped by 1.32%, DAX 30 rallied 1.25%. There is still a trend of cautiousness among investors as they consider Fed move towards reducing stimulus in upcoming months.
Financial stocks were among the gainers as BNP Paribas and Societe Generale surged respectfully by 1.53% and 2.39%.
In London FTSE 100 climbed by 1.66%. Royal Bank of Scotland, Barclays and HSBC all gained more than 1.5%.
In the US markets point to a raise of Dow Jones Industrial Average and S&P 500 as their futures are trading slightly under 1%. Nasdaq is also supposed to gain around 1%. A 10 am report shows that consumer confidence in the worlds largest economy rose to the highest since November.
Later today important US data is to be released.
In corporate news, Victrex surged 8.4% to 1,765 pence. The U.K. maker of heat-resistant plastics for the auto, energy and health-care industries raised its interim dividend by 15% to 10.35 pence per share. Revenue climbed 1% in the first half to 106.4 million pounds ($160 million) from a year earlier.
Seadrill Ltd. added 2.1% to 241.10 kroner. The offshore drilling company controlled by billionaire John Fredriksen said earnings before interest, taxes, depreciation and amortization amounted to $713 million in the first quarter. That exceeded the average analyst estimate of $609 million. Seadrill also raised its dividend to 88 cents from 86 cents.
Basilea Pharmaceutica AG soared 6.8% to 72.40 francs after saying that the U.S. Food and Drug Administration has granted orphan-drug status for one of its treatments. The designation gives Basilea the right to sell its drug without competition for seven years and benefit from tax incentives.
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