European Stocks Advance Ahead Of Spanish Debt Sale

European Stocks Advance Ahead Of Spanish Debt Sale

European stock markets kicked off the session in green on Monday, as German Finance Minister Wolfgang Schaeuble said the worst of debt crisis is over, while main focus will be on Spain’s 10-year bond auction.

Investors continue to increase their exposure to the region on hopes the worst of the debt crisis is over. German Finance Minister Wolfgang Schaeuble said Friday that the single currency is 'over the worst of the crisis.', although euro-area chiefs call for more time to lock in a bailout package for Cyprus.

for European leaders, potential stumbling blocks over the coming weeks include a bailout for Cyprus, as German Chancellor Angela Merkel, who met European counterparts in Cyprus on Friday said negotiators for a Cypriot program are 'far from the stage at which we can make a decision.'

Spain’s 10-year bond auction will be the main focus today, and will be watched carefully by the market to see whether the debt-mired nation would be able to continue its 2013 funding at low borrowing cost.

Last week, the Spanish Treasury sold two-year bonds with yields dropping to the lowest level since Nov. 2010, at the first auction this year which also saw the selling of more securities than planned.

As of 03:11 EST, the French CAC 40 traded higher by 0.25% to 3715.21 points, German DAX rose 0.15% to 7727.41 points, while FTSE 100 traded higher by 0.04% to 6123.99 points. While Stoxx 600 fell 0.13% to 287.25.