European shares buck global downturn on Middle East risks as energy stocks gain
- European shares opened higher on Wednesday, led by energy stocks, defying a slump in Asian stocks and Wall Street after Iran's ballistic missile strike on Israel raised fears of a broader regional conflict.
The energy sector provided the biggest boost to the index, gaining 17% after oil prices jumped due to rising concerns in the Middle East that could escalate, following Iran's biggest-ever military blow against Israel. On the data-front, euro-zone unemployment data for August is set to drop at 0900 GMT. Markets will also be focussing on comments by the European Central Bank's chief economist Philip Lane, with a host of ECB board members set to speak through the day, including Vice President Luis de Guindos.
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