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Market Update

Europe: Banks Lead Indexes Higher

May 31, 2011

Shares in Europe were trading higher Monday tracking strength in U.S. futures and in commodities.

At the time of writing, Britain's FTSE, France's CAC and Germany's DAX climbed 0.8% to 1.2%.

Financial stocks rose across the region as debt concerns in the Eurozone appeared to have abated for now. Barclays, BNP Paribas, Credit Agricole and Societe Generale climbed 1.3% to 2.5%.

In news-driven stocks, Carrefour SA advanced 1.2% after the Wall Street Journal said its board was expected to meet to discuss its operations in Brazil, after the country's largest retailer had approached Carrefour to explore "growth opportunities".

Tullow Oil added 1% in London after saying it plans a secondary listing in Ghana.

Elsewhere, Asian shares were mostly up with the Japanese market leading the gainers.

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