The European markets are seen opening lower on Tuesday, as investors digest the Reserve Bank of Australia's surprise decision to leave the cash rate target unchanged at 3.75% and look forward to FTSE 100 heavyweight and oil giant BP's earnings announcement later in the day.
Most Asian stocks bounced back on Tuesday, led by oil and metal stocks, taking clues from positive manufacturing reports from across the globe. Japan's Nikkei average rose 1.63%, with Toyota Motor jumping after detailing plans of its fix for recalled vehicles, while exporters climbed on a weaker yen.
Crude oil prices rose by about half a percent toward $75 a barrel in Asian trading, as regional stock markets snapped a losing streak and economic data suggested U.S. crude demand could improve.
On Wall Street, stocks posted significant gains on Monday, as an encouraging earnings report from oil giant Exxon Mobil and a strong pick up in manufacturing activity boosted market sentiment. In other news, President Barack Obama released a $3.834 trillion budget proposal for 2011, projecting a nearly $1.3 trillion deficit despite a three-year non-military discretionary spending freeze. The Dow advanced 1.17%, the Nasdaq Composite gained 1.11% and the S&P 500 index added 1.43%. Currently, the Dow futures are moving down by 18 points.
In domestic corporate news, integrated petroleum company Royal Dutch Shell Plc. announced that its unit, Shell International Petroleum Co., has signed a non-binding memorandum of understanding or MoU with Brazilian sugar and ethanol company Cosan S.A. in order to form an about $12 billion joint venture in Brazil.
BNP Paribas announced that it has selected Gemalto as part of first global tender covering fifteen countries. The contract will involve the supply of EMV banking cards and personalization services for a two-year period.
Rio Tinto said it completed the sale of Alcan Packaging global Pharmaceuticals, global Tobacco, Food Europe and Food Asia divisions to Amcor for a total consideration of US$1.95 billion, on February 1.
Italian car maker Fiat SpA posted a 30.4% rise in car sales in January, leaving it with a 32 percent market share. Eyewear maker Luxottica SpA said it bought back 262,000 treasury shares in January for 4.87 million euros.
French telecommunications giant Telecom SA plans to split the roles of its chairman and chief executive officer, and the proposal, if approved, will be effective March 1. Broadcaster M6-Metropole Television SA said it exercised a put option to sell its 5.1% stake in Canal Plus France, a unit of French media-to-telecoms conglomerate Vivendi SA, for a minimum guaranteed price of 384.2 million euros.
The European markets rose for the second day on Monday, as strong economic data from the U.S. boosted banking stocks and commodity stocks gained on firmer crude oil and metals prices. Lifting sentiment to some extent, the Eurozone manufacturing purchasing managers' index hit a two-year high in January, led by France and Germany, survey data released by Markit Economics showed Monday.
The FSTEurofirst 300 index of pan-European blue chips closed 0.60% higher, while the narrower DJ Stoxx 50 index rose 0.50%. Around Europe, the U.K.'s FTSE 100 index advanced 1.14%, France's CAC 40 index rose 0.60% and Germany's DAX index added 0.81%.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.