WELLINGTON: Asian stocks are likely to open stronger on Tuesday amid optimism that progress is being made on tackling Greece's debt crisis although caution remains ahead of a crucial vote later this week on an austerity plan.
Investor confidence was boosted by news that French banks, among the most exposed to Greece, have agreed a plan to roll over holdings of maturing Greek debt, which was reported to have raised the interest of German banks also exposed to Greece.
The main Wall Street indices rose for the first time in four sessions, closing between 0.9 percent and 1.3 percent higher. Financial stocks, the most battered this year, rebounded 1.1 percent.
U.S. stocks were unmoved by data showing U.S. consumer spending stagnated in May, while a reading on Midwest manufacturing rose slightly.
Asian stocks listed on Wall Street and world stocks, as measured by the MSCI world equity index , both rose 0.4 percent.
British shares rose 0.4 percent on a rally by energy and utilities stocks, but European shares were largely flat in a choppy session.
The euro moved higher against the U.S. dollar on confidence the Greek parliament will approve the tough and unpopular austerity package, but oil fell further on concerns of weaker global growth.
Japanese markets are set to open higher, with Nikkei futures traded in Chicago 90 points above the last closing level in Osaka.
Australian stocks are also looking firmer with share price index futures up 49 points or 1.1 percent, to sit to 29.2 points above close of the S&P/ASX 200 index. ' Reuters
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Investor confidence was boosted by news that French banks, among the most exposed to Greece, have agreed a plan to roll over holdings of maturing Greek debt, which was reported to have raised the interest of German banks also exposed to Greece.
The main Wall Street indices rose for the first time in four sessions, closing between 0.9 percent and 1.3 percent higher. Financial stocks, the most battered this year, rebounded 1.1 percent.
U.S. stocks were unmoved by data showing U.S. consumer spending stagnated in May, while a reading on Midwest manufacturing rose slightly.
Asian stocks listed on Wall Street and world stocks, as measured by the MSCI world equity index , both rose 0.4 percent.
British shares rose 0.4 percent on a rally by energy and utilities stocks, but European shares were largely flat in a choppy session.
The euro moved higher against the U.S. dollar on confidence the Greek parliament will approve the tough and unpopular austerity package, but oil fell further on concerns of weaker global growth.
Japanese markets are set to open higher, with Nikkei futures traded in Chicago 90 points above the last closing level in Osaka.
Australian stocks are also looking firmer with share price index futures up 49 points or 1.1 percent, to sit to 29.2 points above close of the S&P/ASX 200 index. ' Reuters
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