European stocks were seeing modest gains on Wednesday as worries about gas supplies eased and U.S. streaming giant Netflix posted better than expected results for the June quarter.<\/p>\n
Italian Prime Minister Mario Draghi said in a speech to the Senate that he was willing to put together a new coalition.<\/p>\n
The European Central Bank is seen raising interest rates for the first time in 11 years at Thursday’s meeting of the governing council.<\/p>\n
In economic releases, Germany’s producer price inflation eased unexpectedly in June from a record high in May, while U.K. consumer inflation hit a new 40-year high in June on rising motor fuel and food prices, separate reports showed. <\/p>\n
The pan European Stoxx 600 was up 0.3 percent at 424.74 after rallying 1.4 percent in the previous session. <\/p>\n
The German DAX, Franc’s CAC 40 index and the U.K.’s FTSE 100 rose between 0.2 percent and 0.3 percent.<\/p>\n
Commodity-related stocks climbed as recession worries ebbed. Miners Anglo American and Glencore rallied 1-2 percent, while oil & gas firm BP Plc advanced 1.7 percent and Shell added 1 percent.<\/p>\n
Advertising firm WPP jumped 2.4 percent after U.S. rival Omnicom Group reported second-quarter earnings that beat analysts’ forecasts.<\/p>\n
Postal service and courier company Royal Mail tumbled 4.7 percent after its fiscal first-quarter group revenue fell 11.5 percent year-on-year.<\/p>\n
Morses Club shares plunged 43 percent after the subprime lender said it was looking at a potential program to settle customer redress claims.<\/p>\n
Uniper shares jumped 19 percent. The company is nearing a bailout deal that may see the German government inject billions of euros and take a direct stake in the energy giant, the Bloomberg said, citing people familiar with the matter.<\/p>\n
ASML Holding N.V. shares were moving lower after the Dutch semiconductor equipment maker trimmed its revenue growth forecast for fiscal 2022. <\/p>\n