Market Update
European bourses were trading slightly higher early Wednesday as U.S. stocks staged a rebound overnight, lending some support to investor confidence.
Sentiment, however, remained cautious as investors looked forward to some important economic reports from the U.S. due later in the day.
The FTSE 100 was up 0.3% 8:45 a.m. in London, the CAC 40 Paris edged up 0.1% while the DAX Frankfurt was flat.
Stocks on the Move
In stock specific moves, Adidas AG edged up 0.2% amid reports that said the sports apparel maker sued rival Under Armour Inc. UA for allegedly infringing patents.
Swatch Group AG reported full-year earnings that topped Street estimates. Shares of the high-end watch maker more than 4% in response.
In the financials segment, RSA Insurance Group Plc. bounced more than 5% after hiring former Royal Bank of Scotland Group Plc. chief executive Stephen Hester to get the insurer back on track after problems at its Ireland unit.
Others in the sector were also higher. Insurance firm Aviva Plc. was up 0.3% while banking giant Lloyds Banking Group rose 1.6%.
French lender Societe Generale SA rose 1.5% while BNP Paribas SA tacked on a percent.
Deutsche Bank AG was also up 1% in Germany while Commerzbank AG gained 1.1%.
But miners were mixed. BHP Billiton Plc. added 0.4% while Rio Tinto lost around the same. Glencore Xstrata Plc. was trading flat.