7:30AM Asian stocks advance led by upbeat Japanese stocks.
Asian markets finished higher on Tuesday. The Nikkei 225 Index rose 1.7% to finish at 16289.55. Leading advancers were machinery stock Okuma jumping 11%. TDK adding 2.1%. Sumitomo Mitsui Financial Group increasing 4.2% and Mitsui Fudosan posting a 2.3% rise. However, shares in Aozora, a once-ailing Japanese bank turned around by U.S. private-equity firm Cerberus Partners and other investors, closed down 12% from its premarket IPO price.

In Hong Kong, the Hang Seng Index ended 0.1% higher at 18,878.42. Stocks closed only slightly higher as gains in China-related blue chips offset weakness in HSBC Holdings shares. Shares of HSBC declined 1.5% after the company posted a worrying fall in earnings at its U.S. units. Industrial & Commercial Bank of China gained 2.1%, while China Mobile increased 1.6%.

In Seoul, the Korea Composite Stock Price Index, or Kospi, rose 0.8% to 1,407.37. Samsung Securities gained 2.1% and Woori Investment & Securities rose 4%. Samsung Electronics gained 1.3% and Hynix Semiconductor rose 0.9%. Korean Air also jumped 4.2% despite announcing disappointing third-quarter results. Analysts believe prospects of Korean Air are likely to improve in the fourth quarter as oil prices began to fall from mid-August and are likely to remain stable for the rest of the year.

Other indices also gained. Australia S&P/ASX 200 rose 0.3%, while New Zealand NZX-50 Index ended 0.6% higher. Singapore Straits Times Index added 0.5% and Taiwan Weighted Price Index rose 1%.


6:30AM European stocks advanced supported by telecom companies.
European markets were higher on Tuesday. By mid morning, the FTSE 100 in London added 0.3% 6,210.7, Frankfurt Xetra Dax gained 0.1% to 6,397.55, and the CAC 40 in Paris was marginally higher at 5,490.4.

Advancers

UK mobile group Vodafone kept its full-year guidance of 5 - 6.5% organic revenue growth after reporting a forecast-beating rise in first-half core earnings. Vodafone gained 2%.

Telefonica, the Spanish telecoms group, gained 0.7% after reporting a better-than-expected 43% rise in nine-month operating revenue.

Telekom Austria rose 2.1% after defying expectations of a profit decline. The company reported a 1% rise in third-quarter core profits thanks to growth in its international assets, including Bulgaria’s Mobiltel.

Other telecoms groups were feeling the wave of optimism in the sector, with TeliaSonera, the Nordic region’s biggest operator, up 1.4%. It received a number of broker upgrades after reporting its own set of strong results earlier in the month. Telenor, which also reported earlier this month, gained 1.5%. Telecom Italia added 1%.

Miners such as Rio Tinto and BHP Billiton also rose more than 1% after selling off sharply the previous day amid weaker metal prices.

Decliners

Sacyr Vallehermoso, which gained a massive 15 % in the previous session following record quarterly results, gave back 3.2% as profits were taken.

Italian bank Banca Lombarda e Piemontese slipped 3.6% after it said late on Monday that it will merge with Banche Popolari Unite in a deal that will create the sixth largest bank in Italy.

Oil and gold

Crude oil for December delivery on the New York Mercantile Exchange was 0.5% higher in London. The December Brent crude contract traded on London ICE Futures Exchange at $59.45 a barrel, up 40 cents.

Gold for immediate delivery fell $1.80, or 0.3%, to $623.90 an ounce in London. Prices dropped 1.5% in the previous two sessions.

Currencies

The euro was up slightly against the U.S. dollar Tuesday ahead of a key forecast on German economic sentiment and lower-than-expected inflation. The euro bought $1.2829, up from $1.2810 late Monday in New York. Among other currencies, the British pound fell to $1.8987 from $1.9013 while the dollar was down slightly to purchase 117.85 Japanese yen from 118.12 yen.