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Liverpool Street train station under the new skyline of skyscrapers in the City of London financial district on February 14, 2022 in London, United Kingdom.
Mike Kemp | In Pictures | Getty Images
LONDON — European stocks were higher on Wednesday as investors turned their attention to the U.S. after a week of political drama.
O Stoxx 600 The index was 0.6% higher at 11:24 a.m. in London, with almost all sectors moving into the green. Travel led gains, rising 1.45%, with chemicals stocks dipping 0.1%.
Norwegian technology group Kongsberg outperformed earnings, rising 11%, after communicating a 21% increase in operating revenue.
European markets
| .FTSE | FTSE 100 Index | 8,185.74 | +45.93 | +0.56% |
| .GDAXI | DAX | 18,370.27 | +134.08 | +0.74% |
| .FCHI | CAC 40 Index | 7,574.64 | +65.98 | +0.88% |
| .FTMIB | FTSE MIB | 34,191.56 | +327.09 | +0.97% |
| .IBEX | IBEX 35 Idx | 11,009.80 | +111.00 | +1.02% |
European stocks closed lower on Tuesday as investors in the region weighed political uncertainty in France following the outcome of Sunday’s election, in which the left wing New Popular Front (NFP) won the most seats but failed to secure an absolute majority. The NFP is demanding that President Emmanuel Macron allow it to form a government and choose one of its candidates as France’s next prime minister.
France CAC40 The index closed down 1.81% on Tuesday as traders assessed the implications of a hung parliament and a period of political uncertainty in France. The index recovered 0.87% as of Wednesday morning.
Asia-Pacific Markets were mixed overnight, even as major Wall Street indexes rose after dovish comments from U.S. Federal Reserve Chairman Jerome Powell on Tuesday. Powell warned that keeping rates high for a long time “could unduly weaken economic activity and employment.”
On Thursday, the monthly U.S. consumer price index will be released, followed by the producer price index on Friday. Both prints and whether they surprise to the upside or downside will be key indicators of the interest rate outlook.
US Stock Futures were little changed in trading overnight Tuesday after the S&P 500 Index reached a new closing record.
Gains come from Wetherspoons and National Grid. No major data releases.