European markets opened higher this morning with technology stocks among leading gainers.
The rise came as investors chose to ignore disappointing statements from ASML and Thomson and focused on earnings in line or above expectations from US peers overnight.
The pan-European FTSE Eurotop 300 index rose 1.5 per cent to 833.5, extending its 3.5 per cent gain since Monday. Stocks on Wall Street defied weak industrial production data and a profits warning from General Motors to end higher. After the close of trade, Microsoft, Intel and Texas Instruments delivered relatively solid earnings.
In Europe, Frankfurt's Dax was 2.8 per cent firmer at 2,913.1, the Paris Cac 40 rose 2.2 per cent to 2,986.4, and in London the FTSE 100 traded 1.2 per cent higher at 3,962.3.
New York's Dow Jones Industrial Average ended 0.6 per cent firmer last night at 8,402.4, and the Nasdaq Composite rose 0.4 per cent to 1,391.0. Tokyo's Nikkei 225 average was 0.5 per cent stronger at 7,879.5 on Wednesday morning.
Earnings from Intel, the world's biggest chipmaker, met forecasts in the US late last night but was cautious about sales going forward and the otherwise upbeat sentiment in Europe was somewhat tempered by a disappointing report from ASML.
Agencies