BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets closed on a firm note on Wednesday, supported by gains in steel stocks after the European Union proposed to lower shipment quotas for tariff-free steel imports into the bloc, and hike tariffs on volumes that are above the proposed limits.
The mood in most of the markets in the region remained positive despite political tensions in France, and data showing a sharp drop in German industrial output.
The pan European Stoxx 600 climbed 0.79%. The U.K.'s FTSE 100 gained 0.69%, Germany's DAX advanced 0.87% and France's CAC 40 moved up 1.07%. Switzerland's SMI closed up by 1.01%.
Among other markets in Europe, Belgium, Denmark, Finland, Greece, Iceland, Ireland, Norway, Poland, Portugal, Spain and Sweden closed higher.
Russia and Turkiye ended weak, while Austria, Czech Republic and Netherlands closed flat.
In the UK market, Antofagasta climbed about 3%. Fresnillo, Endeavour Mining, Rio Tinto and Anglo American Plc also closed on firm note.
Lloyds Banking gained 3.7%. The bank announced that it is assessing the FCA's motor finance redress scheme. Standard Chartered, Natwest Group and HSBC Holdings climbed 1.5 to 2.6%.
Haleon, IAG, Marks & Spencer, Burberry Group, BAE Systems, Entain and St. James's Place were among the other prominent gainers.
ICG, Segro, Spirax Group, Croda International, LondonMetric Property, Metlen Energy & Metals, Land Securities, Auto Trader Group and Associated British Foods ended notably lower.
In the German market, Zalando climbed more than 5%. Siemens Energy, Adidas, Rheinmetall, Fresenius and Deutsche Bank gained 2 to 3.4%.
Allianz, Qiagen, RWE, Heidelberg Materials, Fresenius Medical Care and Siemens also posted strong gains.
BMW tanked more than 8% after lowering its revenue forecast, citing U.S. tariffs and weaker-than-expected growth in the Chinese market.
Mercedes-Benz, Porsche Automobil, Volkswagen and Daimler Truck Holding lost 1.6 to 2.7%.
BASF, Continental, Infineon, Bayer and Brenntag also ended notably lower.
In the French market, ArcelorMittal surged nearly 7%. Legrand gained about 3.6%. LVMH, Hermes International, L'Oreal, Schneider Electric, Airbus, Safran, Thales, Societe Generale, AXA, Bouygues, Orange, Accor and STMicroElectronics also moved up sharply.
Capgemini, Renault, Stellantis, Saint Gobain and Dassault Systemes closed weak.
Data from Destatis showed Germany's industrial output fell 4.3% year-on-year in August, in contrast to the 1.3% increase in July. Output was expected to fall 1%.
The production of capital goods fell 9.6% and that of consumer goods slid 4.7%. However, intermediate goods output registered a moderate decrease of 0.2%.
Data showed that energy production was down 0.5%, while construction output grew 0.6% in August.
Excluding energy and construction, industrial production fell 5.6% from July and decreased 5.1% from the previous year.
On a yearly basis, industrial production logged a decline of 3.9%, reversing July's 1.5% increase.
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