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Market Update

European Shares Edge Higher

Equities in Europe were trading higher Wednesday, after Wall Street closed strong overnight on some robust earnings and after lawmakers appeared to be inching closer to a debt deal.

At the time of writing, Britain's FTSE rose gained 0.4%, France's CAC added 0.7% while Germany's DAX rose 0.6%.

Financials bounced back strongly after taking a beating recently: Barclays, BNP Paribas, Credit Agricole and Societe Generale climbed between 2.4% and 3.5%.

Also, reports said U.S. Congressional leaders were coming around to agree to a deal to raise the debt ceiling of the United States, a move that would avert a technical default, in exchange for spending cuts.

Technology stocks also rose after Apple posted blowout earnings last evening. ARM Holdings advanced 3.4%.

Shares of Alstom SA were off 2.8% following its earnings announcement.

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