Major European Markets In Positive Territory In Cautious Trade

(RTTNews) - The major European markets are up in positive territory on Wednesday with investors picking up stocks amid continued optimism about a sharp rate cut by the Federal Reserve following recent weak labor market data. Easing concerns on the trade front also contribute to the positive sentiment in the markets.

The undertone is fairly steady in the French market following the appointment of Sébastien Lecornu as France's new Prime Minister.

Investors are looking ahead to the European Central Bank's policy announcement, and the data on U.S. consumer price inflation, due later in the week.

The U.K.'s FTSE 100 was up 19.52 points or 0.21% at 9,262.05 a little while ago. Germany's DAX was up marginally at 23,734.57, and France's CAC 40 was up 35.01 points or 0.45% at 7,784.40. The pan European Stoxx 600 gained 2.36 points or 0.43% at 554.75.

In the UK market, DCC is up nearly 4%. Haleon, Anglo American Plc, Pershing Square Holdings, Prudential, BAE Systems, Centrica, Imperial Brands, Standard Chartered, HSBC Holdings, Admiral Group, Polar Capital Technology Trust and Fresnillo are gaining 1.5 to 3%.

Associated British Foods is plunging more than 11%. Associated British Foods is tanking nearly 11% after the company warned of slowing sales at Primark in Europe, despite strong growth in the United States.

IAG is down 2.7%. JD Sports Fashion, Ashtead Group, Next, Persimmon, Segro, EasyJet, Kingfisher, Vodafone Group, Marks & Spencer and Glencore are down 1 to 1.7%.

In the German market, Siemens Energy is up nearly 3%. Siemens Healthineers, Rheinmetall, Sartorius and Deutsche Bank are up 1.5 to 1.8%.

Daimler Truck Holding, Deutsche Telekom, Vonovia, Porsche, Qiagen, Bayer and Munich Re are down 1 to 1.6%.

In the French market, Thales is rising nearly 4%. EssilorLuxottica is gaining 2.75%, while Legrand, Schneider Electric and Societe Generale are up 2 to 2.3%.

ArcelorMittal, Credit Agricole, Bouygues, Vinci and Veolia Environment are also notably higher.

Pernod Ricard, STMicroElectronics, L'Oreal, Accor, Carrefour, Stellantis and Edenred are down with sharp to moderate losses.