Overseas Trading: European Stocks Rise With Banks, Oil

European stocks are bouncing following yesterday's steep sell-off

by Karee Venema

Published on Jul 7, 2016 at 8:46 AM

Asian benchmarks finished mixed today in the wake of Wednesday's steep sell-off among global stocks, as markets in the U.S. stabilized on solid economic data and a relatively dovish Fed outlook. On the plus side, Hong Kong's Hang Seng rallied 1%, while South Korea's Kospi jumped 1.1%

Elsewhere, Japan's Nikkei fell 0.7% -- led by a drop in real estate and construction stocks -- as the yen pushed near levels not seen since November 2013. China's Shanghai Composite, meanwhile, settled 0.01% lower.

Stocks in Europe are comfortably higher at midday, boosted by rising oil prices and a rebound in financial shares. Additionally, French food firm Danone's roughly $10 billion acquisition of WhiteWave Foods Co (NYSE:WWAV) is helping to lift investor sentiment. At last check, London's FTSE 100 is up 1.3% as the pound recovers some of its recent losses, the French CAC 40 is 1.2% higher, and the German DAX has tacked on 0.6% despite an unexpected drop in May's industrial output.

Overseas stocks July 7

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