European stocks rally led by miners, banks

Following a positive start to the European markets, the region’s indices extended the previous rebound, mainly driven strong gains on the banking as well as mining sector stocks amid increased expectations of a BOE rate cut this Thursday.

Further, higher base metals and bullion prices pushed the Glencore Plc and ArcelorMittal northwards, lifting the sentiment amongst the miners, while financial and banking sector stocks rebounded sharply on the latest announcement of extra stimulus by Japan, which suggests more cheap money flooding into markets and hence, lending support to the corporates.

Meanwhile, Goldman Sachs' strategists kept a "neutral" view on equities, given the lingering concerns that the Brexit vote is expected to have a major negative impact on the British economy.

Currently, Germany's DAX 30 index jumps +1.01% to 9,729, while the UK's FTSE index rises +0.57% to 6,628. Among other European indices, the French CAC 40 index rallies 0.74% to 4,221, while the pan-European Euro Stoxx 50 index advances +0.51% to 2,853.