Market Update

European Stocks Gain Cautiously

Apr 6, 2011

Shares in Europe rose early Wednesday, but gains remained capped on sovereign concerns ahead of a debt auction by Portugal and after Moody's downgraded several banks of the country.

At 12:45 p.m. (I.S.T.), Britain's FTSE and Germany's DAX rose 0.3% while France's CAC edged up 0.1%.

Financials traded broadly lower with Barclays, BNP Paribas, Credit Agricole and Societe Generale losing 0.7% to 2.3%.

But miners rose in early trade: BHP Billiton, Rio Tinto and Xstrata climbed 0.3% to 0.6%.

In news-driven movers, retailer Marks & Spencer jumped 4.2% after posting a trading update, with sales exceeding expectations.

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