European equities track Wall Street higher

FXstreet.com (Barcelona) - Stocks over the major European markets are on the rise for a 2nd consecutive day, as they track pronounced gains recorded over Wall Street due to strong corporate earnings as well as hints of a US debt deal. So far the FTSE 100 is up around 45 points or 0.77%, while the Frankfurt-based DAX and Paris-based CAC 40 post gains of 0.66% and 0.95% repectively.

Robust quarterly earnings by the likes of Apple as well as the European chip-maker ARM Holdings are supporting the all-around positive market sentiment, coupled by news of US policymakers possible coming around to a debt deal by the "Gang of Six" which is gaining support on both sides of the aisle.

Still, caution remains ahead of tomorrow´s important Ecofin meeting, which is expected to detail a plan for the 2nd Greek bailout. Officials are currently debating how much the existing debt-burden for the country should be reduced, with a substantial gap remaining between representatives as the best-way forward.

source : fxstreet.com