European stocks join global risk-on rally, FTSE trades cautious

The stocks on the European bourses are seen building up on recent gains, tracking strong gains from its Asian and American counterparts, especially after the Wall Street hit a record high a day before.

Moreover, upbeat corporate news coupled with the global central bankers’ and policy makers favouring further easing in wake of Brexit fallout, bolsters the sentiment around the European equities. Adding to this, a solid bounce in the oil prices provides fresh impetus to the energy and resource sector stocks. Both crude benchmarks are up nearly 2% so far this session.

Meanwhile, the UK’s FTSE index continues to trade modestly higher, with London traders remaining cautious as the BOE Governor Carney’s testimony on the Financial Stability Report (FSR) before the Parliament gets underway.

Currently, Germany's DAX 30 index jumps +1.34% to 9,966, while the UK's FTSE index rises +0.11% to 6,689. Among other European indices, the French CAC 40 index rallies 1.51% to 4,328    , while the pan-European Euro Stoxx 50 index advances +1.51% to 2,927.