Investing.com - European stocks opened higher on Wednesday, as investors eyed the minutes of the Federal Reserve’s most recent policy meeting for hints on the timing of future interest rate hikes.
During European morning trade, the EURO STOXX 50 advanced 0.79%, France’s CAC 40 climbed 0.70%, while Germany’s DAX 30 gained 0.71%.
European equities remained supported after European Central Bank President Mario Draghi said on Monday that the central bank would not hesitate to act to boost euro zone growth and inflation, hinting at the possibility of further easing measures.
Markets also continued to focus on the oil market amid declining prices as OPEC members were to travel to Tehran in an attempt to convince Iran to join an oil production freeze deal.
Financial stocks were mixed, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) added 0.10% and 0.29%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) retreated 0.86% and 1.81%.
Among peripheral lenders, Intesa Sanpaolo (MI:ISP) dipped 0.08% and Unicredit (MI:CRDI) climbed 0.64% in Italy, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) gained 0.34% and 1% respectively.
Elsewhere, Akzo Nobel (AS:AKZO) advanced 0.75% after saying it made a €475 million offer to buy BASF's industrial coatings business and expects this to be completed in the second half of 2016.
Adding to gains, Norsk Hydro ASA (OL:NHY) saw shares surge 4.49% after the renewable energy company cut its 2015 forecast for global demand for the metal but posted underlying operating profit above analysts’ estimates.
In London, commodity-heavy FTSE 100 climbed 0.50%, boosted by gains in the mining sector.
Shares in Anglo American (L:AAL) jumped 1.51% and Rio Tinto (L:RIO) rallied 1.55%, while rival company Glencore (L:GLEN) soared 4.18%.
Financial stocks were also on the upside, as HSBC Holdings (L:HSBA) and the Royal Bank of Scotland (L:RBS) edged up 0.08% and 0.12% respectively, while Lloyds Banking (L:LLOY) jumped 1.14% and Barclays (L:BARC) climbed 1.24%.
Meanwhile, Rolls Royce (L:RR) shares rallied 1.86% following news the luxury carmaker is preparing to back a bid by ValueAct for a seat on the board, in a move to recover from a string of profit warnings.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.02% uptick, S&P 500 futures a 0.01% dip, while the Nasdaq 100 futures indicated a 0.22% fall.