The French market is moderately higher in afternoon trading Tuesday, after second-quarter growth figures from the largest eurozone economy as well as France topped expectations. Asian stocks ended higher after the minutes of Bank of Japan's July 11-12 meeting showed that policy members are prepared to expand monetary stimulus to boost the economy.
The German gross domestic product rose 0.3 percent quarter-on-quarter in the second quarter, while expectations were for a 0.2 percent growth. Positive contributions came mainly from final consumption expenditure and net trade.
The French statistical office Insee said its GDP recorded no growth in the second quarter, as was the case in the past two quarters. Economists had forecast a 0.1 percent contraction.
Meanwhile, the Eurozone economy contracted in the second quarter as expected by economists, flash estimate from Eurostat showed.
The Euro Stoxx 50 index of eurozone bluechip stocks is adding 0.76 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.60 percent.
The CAC 40 index is currently advancing 0.48 percent.
Tire maker Michelin is rising 1.3 percent, hotel group Accor is adding 1.1 percent and drugmaker Sanofi is advancing 1 percent.
PPR is losing 1.2 percent.
Credit Agricole and Societe Generale are losing moderately, while BNP Paribas is flat.
Elsewhere in Europe, the German DAX is advancing 0.81 percent and the UK's FTSE 100 is climbing 0.48 percent. Switzerland's SMI is rising 0.41 percent.
Across Asia/Pacific, Australia's All Ordinaries rose 0.2 percent and China's Shanghai Composite Index gained 0.3 percent. Hong Kong's Hang Seng climbed 1.1 percent and Japan's Nikkei 225 advanced 0.5 percent.
In the U.S., futures point to a higher open on Wall Street. In the previous session, the major averages finished the day mixed. While the Nasdaq edged up 0.1 percent, the Dow fell 0.3 percent and the S&P 500 dipped 0.1 percent.
In the commodity space, crude for September delivery is adding $0.31 to $93.04 per barrel and December gold is rising $1.7 to $1614.3 a troy ounce.
by RTT Staff Writer
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