European markets rose Tuesday as investors were hopeful that the European Central Bank (ECB) would soon announce stimulus measures to rejuvenate the faltering economy of the euro zone and regain the growth momentum.
The French CAC 40 index advanced 0.61 percent or 21.37 points to 3501.95. Shares of Danone SA rose 1.16 percent and shares of Renault SA climbed 0.75 percent.
London’s FTSE 100 index was up 0.30 percent or 17.37 points to 5841.74. Shares of Evraz PLC rose 1.89 percent and shares of Aviva PLC were up 1.20 percent.
The German DAX 30 index rose 0.23 percent or 16 points to 7049.68. Shares of Allianz SE advanced 0.71 percent and shares of Siemens AG rose 0.62 percent.
Spain's IBEX 35 was up 0.22 percent or 16.10 points to 7485.70. Shares of Abengoa SA rose 2.85 percent and shares of Acciona SA advanced 1.03 percent.
Market players sense that the policymakers in the euro zone will need to urgently follow their words with action. A re-launch of the ECB's bond-buying program is the absolute minimum to be expected.
The faltering economic growth is expected to put pressure on the ECB to announce bold stimulus measures to boost the financial condition. It is especially hoped that the central bank will buy sovereign bonds that would reduce the escalating borrowing costs faced by Spain and Italy.
The economies of Italy and Spain have already contracted, by 0.7 percent and 0.4 percent, respectively, while Portugal shrank by 1.2 percent and Greece by 6.2 percent in the second quarter as compared to the same period last year.
Investors are also likely to focus on Greece as a series of meetings will be held this week with its government and other European leaders, who are expected to discuss in detail the austerity measures to be introduced in the country.