By Emily Horton
Europe’s major markets were largely up Wednesday, as investors awaited the renewal of U.S./China trade talks and the outcome of the latest Federal Open Market Committee meeting.
Heavyweight miners were rising.
How did markets perform?
The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP +1.47% rose slightly on Wednesday, adding 0.3% to 358.39, after finishing up 0.8% on Tuesday.
The FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +2.70% rallied 1.8% to reach 6,957.10, gaining along with the British pound after a series of Brexit votes Tuesday night.
Germany’s DAX 30 /zigman2/quotes/210223310/composite DAX +1.28% lagged behind the rest of Europe’s major indexes, losing 0.2% to 11,201.19.
The euro /zigman2/quotes/210561242/realtime/sampled EURUSD +0.7368% remained mostly unchanged, fetching $1.1422. Meanwhile, the pound /zigman2/quotes/210561263/realtime/sampled GBPUSD +0.6702% regained some lost ground to $1.3075; it had dropped on Tuesday night after U.K. parliament voted down a series of Brexit-deal amendments.
What drove the markets?
In the U.S., the latest Federal Open Market Committee meeting will conclude on Wednesday. Although the Fed is expected to leave its short-term interest rate unchanged, the nuances of a press conference by chairman Jerome Powell will be closely watched.
Trade talks are also set to resume between Chinese and U.S. officials in Washington.
British lawmakers on Tuesday rejected proposals from pro-European MPs to delay Brexit, but narrowly backed a broad declaration that the government should not leave the EU without a deal in place. Prime Minister Theresa May now has the green light to return to Brussels to seek further changes to the Irish border agreement, a topic the EU has repeatedly said isn’t open for negotiation.
Earnings optimism was setting up for a strong rally on Wall Street, led by gains for Apple Inc. /zigman2/quotes/202934861/composite AAPL +0.12% and Boeing Co. /zigman2/quotes/208579720/composite BA +5.30% after well-received earnings reports. That optimism also fed over to London and European markets.
What shares were active?
Miners Rio Tinto PLC /zigman2/quotes/208934945/delayed UK:RIO +3.42% and BHP PLC /zigman2/quotes/203323256/delayed UK:BHP +3.88% gained over 2% and Glencore PLC /zigman2/quotes/201400686/delayed UK:GLEN +5.94% added 3.7%. Fresnillo PLC /zigman2/quotes/201300065/delayed UK:FRES +7.71% was up by 1.6%. Glencore PLC added just under 3%.