European shares rose early on Wednesday, adding to strong gains in the previous session, and tracking Wall Street higher after US housing data beat forecasts and Federal Reserve capital proposals for banks proved less onerous than some had feared.
At 0808 GMT, the FTSEurofirst 300 index of top European shares was up 0.7 percent at 983.30 points, after rising 2 percent on Tuesday, following a successful Spanish debt auction, and signs of improved economic prospects in Germany.
“If this recent positive trend in the data continues, it could drive the market higher,” said Daniel McCormack, strategist atMacquarie.
Check out our Premium section. 14 day trial is only $1!
You aren’t subscribed?
If you enjoyed this post, you can subscribe for our free content via RSS Feed, Facebook, Twitter You can unsubscribe at any time, and your information will not be sold to any third parties.
Related posts:
- Cheap European Banks
- GMO: You Can Bank on It: European Banks Need Tons of Money
- Michael Platt, CEO of $30B HFBlueCrest Capital ‘Most European Banks are Insolvent’
- US stocks drop; BofA and other big banks fall hard
- Don Coxe ‘Its the Banks Not the Economy’!
- European Stock Market Valuation December 2011
- European Stock Market Valuations
