Azernews.Az

By Bloomberg

European stock-index futures advanced after Greek lawmakers passed controversial creditor proposals necessary for a new bailout.

Futures on the Euro Stoxx 50 Index expiring in September added 0.6 percent to 3,647 at 7:08 a.m. in London. European stocks on Wednesday capped their longest stretch of gains since February as utilities rallied. Optimism over Greece has helped the Stoxx 600 rebound 7.3 percent from a July 7 low, after falling almost 10 percent from an April record.

After more than four hours of debate stretching into the early hours of Thursday, 229 members of Greece’s 300-seat parliament approved new austerity measures that are a precondition for getting as much as 86 billion euros ($94 billion) in aid. Among those who opposed the bill were 32 members of the ruling Syriza group, indicating that Prime Minister Alexis Tsipras may have lost his majority.

The International Monetary Fund has warned that the country needs more debt relief than is on offer under the creditors’ proposals.

Investors will now look to the European Central Bank -- which announces its interest rate decision today -- for indications as to whether it will grant fresh liquidity to help Greek banks gradually re-open.

Among stocks that may move on corporate news, Swatch Group AG could be active after posting an 8.3 percent drop in first- half earnings, as the strong Swiss franc and weak demand in Hong Kong weighed on demand for watches.

Swedbank AB may move after Sweden’s biggest mortgage lender said profit is under renewed pressure because of negative rates and uncertainty in financial markets. Nordea Bank AB may be active after reporting better-than-expected second-quarter net income.