Market Update
European markets were trading slightly higher with resource plays lending support in London.
The FTSE 100 was up 0.5% at 8:53 a.m. local time. The CAC 40 Paris edged up 0.1% while the DAX Frankfurt was also 0.1% higher.
Stocks on the Move
Miners gained ground following the uptick in commodity prices. BHP Billiton Plc. rose 0.5% while Rio Tinto added 0.2%. Glencore Xstrata Plc. climbed 0.5% too.
Banking firms in London were also in the green. Barclays Plc. and HSBC Holdings Plc. rose 0.5% each, but Lloyds Banking Group Plc. was flat.
Elsewhere in the region, financials were mostly laggard. BNP Paribas SA and Societe Generale SA erased 0.8% and 0.6% respectively in France.
German lending giant Deutsche Bank AG slipped 0.2% in early moves but Commerzbank AG was slightly higher.
In corporate news, Swedish clothing retailer Hennes & Mauitz AB reported higher total sales for January. Shares of the Stockholm-listed company were up 0.8% in response.
Meanwhile, international natural resources group Kazakhmys Plc. added around 2% after the company said it will raise salaries of its operational staff in Kazakhstan by up to 10% from April 1.