BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed on a firm note on Wednesday, recovering fairly well after two successive days of sharp losses.
U.S. President Donald Trump's announcement that the U.S. Navy would escort oil tankers through the Strait of Hormuz to safeguard maritime trade in the Gulf and help stabilize surging global energy prices, aided sentiment a bit.
The U.S. Development Finance Corporation (DFC) has confirmed its readiness to extend political risk insurance and guarantees for energy shipments passing through the Gulf.
The pan European Stoxx 600 climbed 1.37%. The U.K.'s FTSE gained 0.8% and France's CAC 40 ended with a gain of 0.79%, while Germany's DAX moved up 1.74%. Switzerland's SMI closed 0.79% up.
Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Spain and Sweden closed with strong gains.
Portugal ended modestly higher, and Türkiye edged up marginally, while Russia closed weak.
In the UK market, Metlen Energy & Metals climbed nearly 7.5%. St. James's Place, Rolls-Royce Holdings, Informa, Entain, Intertek Group, ICG and Antofagasta gained 3.3%-5%.
Next, Melrose Industries, Polar Capital Technology Trust, Standard Life, Convatec Group, Aviva, Imperial Brands, HSBC Holdings, Scottish Mortgage, M&G, BAE Systems and 3i Group also moved up sharply.
Weir Group tumbled 10.7% after full-year earnings dropped from last year.
Barratt Redrow, Diageo, BP, Smith & Nephew, Relx, Howden Joinery Group, The Sage Group, Shell, Persimmon, Bunzl, Reckitt Benckiser, Coca-Cola Europacific Partners, BT Group and Fresnillo lost 1%-3%.
British homebuilder Vistry Group dropped nearly 20% after an announcement that its executive chairman Greg Fitzgerald would step down over the next year.
In the German market, Infineon climbed more than 5.5%. Daimler Truck Holding, Siemens Energy, Rheinmetall, Siemens Healthineers, Deutsche Post, Siemens, Zalando, Scout24, Deutsche Bank, MTU Aero Engines, Munich Re gained 2%-5%.
Adidas ended weak after announcing changes in its supervisory board. Symrise drifted down after forecasting a low single-digit decline in first-quarter organic sales.
Brenntag, Bayer, Vonovia and Fresenius Medical Care also closed notably lower.
In the French market, ArcelorMittal, Stellantis, Accor, Teleperformance, Societe Generale, L'Oreal, EssilorLuxottica, Bureau Veritas, Schneider Electric, Hermes International, Safran, Danone, BNP Paribas, Airbus, Unibail Rodamco and LVMH gained 1%-5%.
Pernod Ricard closed down by about 2.7%. TotalEnergies, Bouygues, Orange, Renault, Saint Gobain and Dassault Systemes also ended weak.
Data from S&P Global showed the HCOB Germany Composite PMI was revised slightly higher to 53.2 in February 2026 from a preliminary of 53.1, and above 52.1 in January. It is the highest reading in four months, amid faster increases in activity in both the manufacturing and service sectors.
The HCOB Germany Services PMI was revised slightly higher to a four-month high of 53.5 in February 2026 from a preliminary of 53.4, and compared to 52.4 in January, final figures showed.
The HCOB Eurozone Composite PMI climbed to 51.9 in February 2026, up from 51.3 in January, marking the strongest expansion in private sector activity in three months. The HCOB Eurozone Services PMI inched higher to 51.9 in February of 2026 from 51.6 in the previous month, slightly ahead of the preliminary estimate of 51.8 and in line with the initial market expectations.
Industrial producer prices in the Euro Area rose 0.7% month over month in January 2026, reversing a 0.3% decline in December and surpassing market expectations of a 0.2% increase. On an annual basis, producer prices were 2.1% lower than a year earlier, following a 2.0% year-on-year decrease in December.
The HCOB France Composite PMI for January 2026 was at 49.9 in February 2026, matching the preliminary estimate, up from 49.1 in the prior month. The data suggested that French private sector activity remained largely stagnant in February, with persistent uncertainty affecting demand. The services PMI edged up to 49.6 but remained below 50, signaling ongoing contraction compared to January's 48.4.
Data from Eurostat showed the jobless rate fell to seasonally adjusted 6.1% from 6.2% in December. The rate was forecast to remain unchanged at 6.2%.
Data showed that the unemployment rate in the EU27 came in at 5.8% compared to 5.9% in December.
The S&P Global UK Composite PMI stood at 53.7 in February 2026, unchanged from January's 17-month high but slightly below the preliminary estimate of 53.9. The reading signaled a solid expansion in private sector activity, extending the current growth streak to ten months.
The S&P Global UK Services PMI was confirmed at 53.9 in February 2026, just below January's 54 five-month high.
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