BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks traded higher on Wednesday, with a slew of strong corporate earnings, steadier oil prices and lower bond yields helping underpin investor sentiment.
A cautious undertone prevailed, however, after Democrats took control of both houses of Congress in a dramatic win in the U.S. midterm elections, raising uncertainty over tech regulation, trade policy and the U.S. budget deficit.
Oracle has scrapped a multibillion-dollar chip leasing contract with China's Tencent after U.S. officials raised concerns, the Financial Times reported.
The pan-European STOXX 600 surged 0.6 percent to 649.49 after falling 0.6 percent on Tuesday.
The German DAX gained half a percent, France's CAC 40 edged up 0.4 percent and the U.K.'s FTSE 100 was up 0.4 percent.
Technology stocks were broadly higher after AMD reported record revenue in Q3 2026, driven by booming sales of AI chips.
Belgian chemicals group Solvay rose about 1 percent after it signed a long-term agreement to secure rare earths from Brazil.
German car parts supplier Continental soared 5 percent after raising its profitability outlook for 2026.
Online classifieds company Scout24 rose about 2 percent after third-quarter results beat expectations.
Healthcare group Fresenius gained 1 percent after raising its full-year earnings outlook.
Novo Nordisk surged 3 percent. The Danish pharmaceutical giant raised its full-year 2026 sales and operating profit outlook after delivering stronger-than-expected third-quarter earnings.
Jewelry manufacturer and retailer Pandora jumped 8 percent after lifting its revenue and operating margin guidance for 2026.
Trainline shares tumbled 4 percent in London. The rail ticket retailer said its first-half profit dropped from last year.
Marks & Spencer Group shares advanced 2 percent. The retailer reported a sharp rise in half-year profit despite the 'onslaught of cost headwinds' facing the industry.
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