Key facts
- European shares rose, with the STOXX 600 up 0.35% to 648.54 points.
- Commodity-linked sectors, including miners and energy stocks, saw significant gains.
- Glencore's copper production increased 15% in the first half.
- Brent crude futures rose 3% to over $86 a barrel.
- Kering jumped 10.7% after its Gucci brand's sales fell less than expected.
- Technology stocks declined 0.4% following SK Hynix's quarterly results.
European shares saw a modest rise on Wednesday, driven by strong performance in commodity-linked sectors like mining and energy. The pan-European STOXX 600 index closed up 0.35% at 648.54 points.
Miners were the top percentage gainers, up 1.5%, with Glencore adding 4% after reporting a 15% increase in first-half copper production. Energy stocks climbed 1.6% as Brent crude futures rose 3% to over $86 a barrel, influenced by geopolitical developments in the Middle East.
Personal and household goods stocks also performed well, up 1.2%, largely due to a 10.7% jump in Kering's shares after its flagship brand, Gucci, reported sales that fell less than anticipated.
Conversely, technology stocks dipped 0.4%. This decline followed South Korean chipmaker SK Hynix's announcement of strong quarterly results that nonetheless fell short of high investor expectations, fueling concerns about potential slowdowns in AI spending by major technology firms.
Investors were also monitoring for insights into the U.S. Federal Reserve's future policy actions, with attention focused on a statement from Fed Chair Kevin Warsh.