BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on Wednesday despite heightened Middle East tensions and caution ahead of earnings from U.S. big technology companies.
Brent crude futures jumped nearly 4 percent to hit a seven-week high above $94 a barrel after the U.S. military carried out its 11th consecutive night of strikes against Iran and President Trump vowed to bomb Pickaxe Mountain.
Iranian media reported explosions in Bushehr, home to the Iranian nuclear power plant.
There was some respite on the data front, with U.K. consumer price inflation slowing in June to the lowest since March last year, according to data from the Office for National Statistics.
The consumer price index climbed 2.6 percent year-on-year in June, slower than the 2.8 percent increase in May. Prices were expected to climb 2.7 percent.
On a monthly basis, consumer prices edged up 0.1 percent, as expected, compared to an increase of 0.2 percent in May.
The pan-European STOXX 600 rose half a percent to 646.17 after rising 0.6 percent on Tuesday.
The German DAX surged 0.6 percent, France's CAC 40 climbed 0.8 percent and the U.K.'s FTSE 100 rallied 1.2 percent.
Dutch staffing company Randstad soared 8.4 percent after its quarterly organic revenue growth beat expectations.
Telecommunications company KPN fell about 1 percent after slightly trimming its outlook for annual service growth in 2026.
Paint maker Akzo Nobel advanced 1.2 percent after Q2 core profit surpassed forecasts.
Spanish bank Santander gained 1 percent after underlying second-quarter net profit rose 17 percent from last year, driven by a solid performance in Spain and Britain.
Airbus shares jumped more than 7 percent in Paris. The aerospace group announced a €5 billion share buyback program to be carried out over the next three years and reaffirmed its earlier announced fiscal 2026 outlook of around 870 commercial aircraft deliveries and adjusted EBIT of around 7.5 billion euros.
Swiss contract drug manufacturer Lonza tumbled 4.8 percent after first-half revenue came in slightly below estimates.
Germany's GEA Group rallied 5.6 percent after reporting better-than-expected preliminary second-quarter fiscal 2026 results and raising annual guidance.
British pub chain J D Wetherspoon plummeted almost 7 percent after issuing a warning that its annual profit would undershoot expectations.
Fresnillo climbed 2.8 percent. The precious metals miner reaffirmed production guidance for the year 2026, 2027 and 2028 after delivering a solid operational performance during the second quarter of 2026.
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