Europe stocks advance as traders return to Italian equities


Europe stocks trade higher on Wednesday, with traders bidding higher risky assets in early action.

After losing ground on Tuesday amid political upheaval in Italy, the Stoxx Europe 600

SXXP, +0.46%

 rose 0.46% to 373.00, led by oil giants including BP

BP, +0.80%

  and Total

FP, +0.72%

 . Banks

SX7E, +0.53%

  also gained ground.

Italy’s FTSE MIB

I945, +1.17%

 , up about 12% for the year, rose 0.77% to 20643.95 as the nation waits for Italian President Sergio Mattarella to decide whether to hold fresh elections after the resignation of Prime Minister Giuseppe Conte on Tuesday.

The German DAX

DAX, +0.43%

 added 0.37% to 11694.15, the French CAC 40

PX1, +0.65%

 gained 0.61% to 5377.37 and the U.K. FTSE 100

UKX, +0.40%

 rose 0.4% to 7153.61.

Markets were awaiting fresh data on U.S. existing home sales, and after the European close, the release of minutes from the last Fed meeting.

After a 173-point drop in the Dow Jones Industrial Average

DJIA, -0.66%

  on Tuesday, U.S. stock futures

ES00, +0.46%

 were higher.


Source link