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European stocks open higher with financials in lead

European stocks opened higher on Wednesday with financials in the lead, building on the previous session's gains sparked by the U.S. Federal Reserve's interest rate cut and tracking advances in Asian equity markets.

European stocks opened higher on Wednesday with financials in the lead, building on the previous session's gains sparked by the U.S. Federal Reserve's interest rate cut and tracking advances in Asian equity markets.

Swiss bank UBS rose 3.6 percent and Royal Bank of Scotland was up 2.8 percent. German insurer Allianz added 2.7 percent. At 0810 GMT, the FTSEurofirst 300 index of top European shares was up 1 percent at 1,317.88 points.

Britain's benchmark FTSE 100 index rose 0.7 percent, the German DAX climbed 1.2 percent and the French CAC 40 was up 1.3 percent.

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