LONDON – European stocks edged higher on Wednesday, after a rally in US stocks revived sentiment in Asia-Pacific markets overnight.
European dishes Stoxx 600 was up 0.2% mid-morning, halving its opening gain. Oil and gas stocks rose 0.6% while autos fell 0.5%.
The more cautious trade in European markets comes after a volatile session on Tuesday as the slight downside rally seen in the previous two sessions lost some momentum.
US stocks rose on Tuesdayhowever, with the market continuing to recover from last month’s lows, as traders bet on strong corporate earnings reports and bet that the market has found a bottom.
Shares in Asia-Pacific soar Wednesday after US stocks surged overnight.
The consumer price index rose 9.4% year-on-year, estimated on Wednesday, slightly above the consensus forecast among economists polled by Reuters and up. from 9.1% in May.
Income from AkzoNobel and ASML before the bell.
Uniper As the biggest climber in early trading, shares of the German energy giant rose more than 10% amid bailout talks with the government.
At the bottom of the Stoxx 600, Royal letter shares fell more than 5% after an upbeat trading update.
– Abigail Ng of CNBC contributed to this story.
