European equities moved higher on Wednesday, building on gains from the previous session after U.S. President Donald Trump said the United States and Iran were “in negotiations right now” and that they “want to make a deal so badly.”
Although Tehran rejected the U.S. president’s claim that talks are underway, several media reports indicated that diplomatic efforts to resolve the conflict may be intensifying.
The British pound remained weak against the U.S. dollar after data showed that U.K. consumer price inflation held steady at 3.0% in February, in line with market expectations.
Germany’s DAX Index rose 1.3%, while France’s CAC 40 Index gained 1.2% and the U.K.’s FTSE 100 Index advanced 1.0%.
Airline stocks were among the top performers as oil prices dropped nearly 4% on hopes that tensions in the Middle East could ease. Lufthansa (TG:LHA) climbed 1.6%, while Air France KLM (EU:AIR) jumped 3.3%.
Meanwhile, shares of Orange SA (EU:ORA) slipped more than 1%. The French telecommunications group said it had signed an agreement with Verdoso related to a potential sale of Globecast, Orange’s media services division.
Vallourec (EU:VK) surged 4% after the tubular solutions provider secured five contracts to supply oil country tubular goods (OCTG) products in Indonesia.
Jenoptik (TG:JEN) jumped 8%. Despite reporting weaker full-year 2025 results, the German photonics and semiconductor equipment company said it expects revenue growth and improved EBITDA margins in fiscal 2026.
In London, shares of United Utilities (LSE:UU.) gained around 3%. The water company released a pre-close trading update ahead of its full-year results for the period ending March 31, 2026, indicating that performance remains broadly in line with expectations.
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