BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were broadly higher on Wednesday as Brent crude prices fell below $100 a barrel amid easing concerns over global oil supplies and flash PMI data showed France's private sector activity expanded in September at the fastest rate in over two years.
Investors were reacting to reports suggesting that Iran is ready to reopen the Strait of Hormuz within seven days if the United States eases military pressure and lifts its blockade on Iranian ports.
Additionally, it was said that Saudi Arabia has restarted its East-West oil pipeline and is preparing to resume Red Sea oil exports from Yanbu.
The pan-European STOXX 600 was marginally higher at 643.25 after closing 0.1 percent higher on Tuesday.
The German DAX slipped 0.2 percent, while France's CAC 40 was up 0.3 percent and the U.K.'s FTSE 100 edged up 0.1 percent ahead of a high-stakes U.S.-China summit planned for Thursday.
In corporate news, Exor NV shares surged 2.1 percent. The investment arm of Italy's billionaire Agnelli family has announced a share buyback program of up to 500 million euros, to be executed until its next financial results in March 2027.
Airbus, a manufacturer of aeronautics and aerospace products, was little changed in Paris despite securing a 25-year PARACOM contract from the French General Directorate for Armament.
British engineering company Renishaw rallied 3.4 percent after posting record annual results.
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