European stock markets pushed higher in early trading on Monday on reports that Spain could be making some progress toward a bailout plan.
Media reports said Spain is mulling a request for a credit line, which would help pave the way for the European Central Bank to buy bonds. The Stoxx Europe 600 index XX:SXXP +0.41% rose 0.5% to 272.16, led by banks and oil stocks, with Total SA FR:FP +1.09% TOT +1.19% up 1.1%, Banco Santander SA ES:SAN +1.95% SAN +1.66% up 1.2% and BBVA SA ES:BBVA +1.58% BBVA +0.91% up 1.1%. The Spain IBEX 35 index XX:IBEX +1.19% rose 1% to 7,760.20.
The French CAC 40 index FR:PX1 +0.54% rose 0.8% to 3,449.53, while the German DAX 30 index DX:DAX +0.64% rose 0.8% to 7,318.50. The FTSE 100 index UK:UKX +0.43% added 0.5% to 5,834.26.
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