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Market Update

Europe: Stocks Higher on Fed, Earnings

Apr 28, 2011

Shares in Europe gained early Thursday, after Federal Reserve Chief Ben Bernanke pledged overnight to continue with an accommodative monetary stance in the United States, and after earnings supported.

At 1:30 p.m. (I.S.T.), Britain's FTSE remained flat but France's CAC and Germany's DAX climbed 0.5% each.

The dollar edged lower and equities opened higher while commodity prices also rose.

Financials were trading higher across the region: BNP Paribas, Credit Agricole and Societe Generale added 1.1% to 1.3%. Deutsche Bank climbed over 4% after declaring its quarterly earnings.

Miners BHP Billiton, Rio Tinto, Xstrata and Anglo American rose between 0.7% and 1.9%.

While in earnings-driven stocks, Royal Dutch Shell was up 0.9% in London after the firm announced its earnings and declared a dividend.

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