European shares are broadly higher Wednesday, as investors are shrugging off trade concerns and appear to look ahead to central bank meetings Thursday, for some fresh direction. Some individual stock news has also proved brighter, helping to lift the tone.
By 1245 BST, the EUROSTOXX 600 was 0.21% higher, while the EUROSTOXX 50 edged 0.02% into the green. Regional bourses were a little mixed. The German DAX gained 0.12%, the French CAC moved up 0.46%, while the Spanish IBEX lost 0.12%.
Investors look to Central Bank meetings
European investors have shrugged off the negative tone of the Asian session overnight, preferring to follow the rebound enjoyed by US stocks.
In addition, it appears that rather than focus on the ongoing uncertainty over trade between the US and China – among other regions – investors are opting to look ahead to the Bank of England and European Central Bank meeting announcement, due around midday Thursday.
Another development that could be supportive of the brighter activity Wednesday, is that European Commission President, Jean-Claude Juncker expressed his commitment to find a suitable Brexit agreement.
Meanwhile, there have been some individual stock movers of interest.
Inditex shares are higher after the Spanish-based fashion retailer announced upbeat earnings in the first half of 2018. It also said it anticipates a strong H2 performance, despite the stronger euro. Inditex shares rose 3.72% to €26.47.
Ryanair shares are also higher, reversing earlier gains amid German staff strikes which has seen the budget airline cancel 150 German-based flights. Ryanair said the strike, that was called with just 24 hours’ notice, was unnecessary. Ryanair shares were 0.61% in the green at €13.13.
Elsewhere, shares in Galapagos were in positive territory, as the Dutch pharma research firm said the trails of its new rheumatoid arthritis drug were positive. Galapagos shares were up 15.61% at 102.80.