European Stocks Rebound; Vestas, ING Rally

By Yomna Yasser On Nov 6, 2013

European stock markets opened higher on Wednesday, recouping losses seen the prior day, as banks and mining firms were on the rise. Investors awaited key events later in the week, including the European Central Bank’s rate decision on Thursday and the highly anticipated U.S. nonfarm-payrolls report on Friday.

The Stoxx Europe 600 index XX:SXXP +0.56% gained 0.6% to 323.68, recovering from a 0.2% loss on Tuesday, when a cut to the euro zone’s 2014 growth forecast hurt sentiment. Shares of ING Groep NV NL:INGA +4.14% climbed 4% after the Dutch bank reported a rise in third-quarter underlying profit.

Vestas Wind Systems AS DK:VWS +7.01%rallied 7.6% after the wind-turbine maker narrowed its loss in the third quarter. Miners were also on the rise, tracking metals prices higher.

Rio Tinto PLC UK:RIO +1.35%RIO +0.02% AU:RIO +1.39% gained 1.4%, and BHP Billiton PLC UK:BLT +1.37% BHP +0.07%AU:BHP +0.63% added 1.3%.

Among country-specific indexes, the U.K.’s FTSE 100 indexUK:UKX +0.26% rose 0.3% to 6,764.35 and France’s CAC 40 index FR:PX1 +0.78% jumped 0.8% to 4,287.26. Germany’s DAX 30 index DX:DAX +0.47% gained 0.5% to 9,053.19.

Source: MarketWatch