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Market Update

European Shares Edge Up Ahead of Greek Vote

Jun 21, 2011

Stocks in Europe were trading higher early Tuesday, as investors looked forward to a key vote in the Greece parliament, which may pave the way for approval of austerity measures required to get the next set of emergency funds required by the debt-laden nation to repay loans.

At the time of writing, Britain's FTSE, France's CAC and Germany's DAX rose 0.4% to 0.8%.

Resource stocks notched up early gains, following days of weakness in the recent correction: Miner Rio Tinto gained 1.4% while oil major BP climbed 2.4%.

Shares in Nokia advanced 2% after the Finland mobile giant launched its latest smartphone expected to take on rivals such as Apple's iPhone and mobile phones powered by Google's Android operating system.

While SABMiller fell 2.4% after announcing its bid to take over Australia's Foster's Group, which, reports said quoting sources, had been rejected by the latter.

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