European stock markets opened higher on Wednesday following Asian stock markets’ mixed finish as investors reassessed the global economy following the International Monetary Bank’s global growth cut. They were also awaiting corporate earnings reports and the European Central Bank’s policy meeting later in the week.
Britain’s FTSE 100 rose 0.4 per cent to 6,724.36 and France’s CAC 40 gained 1.2 per cent to 4,380.60. Germany’s DAX advanced 1.2 per cent to 10,100.43. Futures augured moderate gains on Wall Street. Dow futures added 0.4 per cent and S&P futures also advanced 0.4 per cent.
Asian stock markets finished mixed. Japan’s Nikkei 225 fell 0.3 per cent to 16,681.89, while South Korea’s Kospi dipped 0.1 per cent to 2,015.46. But Hong Kong’s Hang Seng index rose 1 per cent to 21,882.48 and Australia’s S&P/ASX 200 gained 0.7 per cent to 5,488.70. Stocks in mainland China and Taiwan were lower, but indexes were higher in Indonesia and Singapore.