Market Update

European Stocks Advance on Banks

Jun 28, 2011

Stocks in Europe rose in early trade Tuesday, tracking gains on Wall Street overnight and in Asia, as worries over Greece appeared to have subsided for now.

At the time of writing, Britain's FTSE was trading 0.3% higher while France's CAC and Germany's DAX climbed 0.5% and 0.4%, respectively.

Financials witnessed buying across the region: Barclays, BNP Paribas, Credit Agricole and Deutsche Bank rose 1% to 2%.

However, shares in Cable & Wireless plunged 13% following a profit warning for the telecoms-service provider.

Insurer Prudential Plc climbed 1.8% after an upgrade from Goldman Sachs.

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