European equities edged higher on Wednesday, even as the U.S. government entered a shutdown after the Senate failed to approve a short-term funding measure.
The U.K.’s FTSE 100 rose 0.6%, the French CAC 40 gained 0.4%, and the German DAX inched up 0.1%.
On the economic front, U.K. house prices accelerated in September amid easing borrowing costs. According to Nationwide Building Society, prices rose 2.2% year-on-year, slightly faster than August’s 2.1% gain and above the forecast of 1.8%. On a monthly basis, values climbed 0.5% after a 0.1% decline in August, beating economists’ expectations of 0.2%.
Pharmaceutical stocks rallied after Pfizer (NYSE:PFE) struck an agreement with the U.S. government to reduce prescription drug costs in exchange for tariff relief.
In the energy sector, Vallourec (EU:VK), a tubular solutions provider, jumped following a Petrobras order for more than 30 units of its Submagnetic Free Flow Oil Country Tubular Goods (OCTG) system, designed to prevent scaling in production pipes.
U.K. bakery and fast-food chain Greggs (LSE:GRG) surged after reporting 6.1% sales growth in the third quarter of 2025.
French engineering and technology firm Technip Energies (EU:TE) advanced after securing two engineering service contracts from Repsol for its Ecoplanta Molecular Recycling Solutions project.
Diageo (LSE:DGE), the spirits giant, rose after issuing €1 billion in fixed-rate bonds under its European Debt Issuance Program. Dutch engineering consultancy Arcadis (EU:ARCAD) also climbed sharply following news of a share buyback.
On the downside, Tate & Lyle (LSE:TATE), one of the world’s largest sweetener producers, fell sharply after revising down its revenue and EBITDA outlook for the fiscal year ending March 31.
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