BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European shares inched higher on Wednesday as investors braced for a 25-basis point rate cut from the European Central Bank when it meets on Thursday.
In economic releases, data showed Eurozone's services sector contracted modestly in May, with the final PMI Services reading falling to 49.7 from April's 50.1. The U.K. services PMI was finalized at 50.9, up from April's 27-month low of 49.0.
The pan European STOXX 600 was up half a percent at 551.26 after finishing marginally lower on Tuesday.
The German DAX jumped 0.9 percent as the cabinet approved a tax relief package designed to stimulate the nation's slow-moving economy and support companies.
France's CAC 40 added 0.7 percent and the U.K.'s FTSE 100 was marginally higher ahead of a deadline for U.S. trading partners to make their 'best offers'.
Airbus shares were up 3.5 percent after Bloomberg News reported that China is considering placing an order for hundreds of Airbus SE aircraft as soon as next month.
Royal Philips rose about 1 percent as the health technology company unveiled plans to repurchase up to 6 million shares to meet certain obligations arising from long-term incentive plans.
Discount retailer B&M European Value Retail slumped 7 percent after posting a mixed bag of results for the past year.
Property management firm Hammerson fell 2.3 percent after an announcement that its Chief Executive Officer, Rita-Rose Gagne, plans to retire in 2026.
WH Smith rallied 3.2 percent. The company maintained its full-year outlook after reporting continued strong performance in its global travel retail business for the 13-week period ending May 31,2025.
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