European shares gain on tech, industrials boost

European shares edged higher on Wednesday, with technology and industrial stocks leading gains as global investor appetite improved, offsetting a mixed slate of corporate news.

The pan-European STOXX 600 SXXP gained 0.2% to 576.90 points by 0809 GMT, with major regional bourses such as Germany DAX and France PX1 up 0.4% and 0.2%, respectively.

Technology stocks (.SX8P) were the biggest boost to the index, set to extend gains to a fourth session.

Industrial stocks (.SXNP) followed, with defence stocks (.SXPARO) in the lead rising 1%. Rheinmetall RHM gained 2.1%, while Leonardo LDO added 1.2%.

Russia and the U.S. did not reach a compromise on a possible peace deal to end the war in Ukraine after a five-hour Kremlin meeting between President Vladimir Putin and Donald Trump’s top envoys on Wednesday, adding to uncertainty over when a ceasefire would materialize.

On the macro front, investors are awaiting remarks from European Central Bank President Christine Lagarde for signals on the interest rate outlook, while a private payrolls data report is expected in the United States later in the day.

Among individual stocks, Inditex ITX rose 7% after the Zara owner reported a strong start to winter sales, while Sainsbury’s SBRY slid 3.7% after Qatar’s sovereign wealth fund said it planned to reduce its stake in the British supermarket group.