July 29 (Reuters) – European shares edged higher on Wednesday, led by miners and energy stocks, as investors tracked developments in the Middle East and awaited earnings from major U.S. technology companies.
The pan-European STOXX 600 rose 0.35% to 648.54 points by 0704 GMT.
Commodity-linked sectors were the biggest percentage gainers, with miners up 1.5%. Glencore added 4% after its first-half copper production rose 15% on higher grades at key operations.
Energy stocks climbed 1.6% as Brent crude futures rose 3% to over $86 a barrel after joint strikes by the U.S. and Saudi Arabia in Iraq threatened to escalate the ongoing U.S.-Iran conflict.
With earnings season in full swing in Europe, investor attention was split between corporate results and macro signals.
Personal and household goods stocks gained 1.2%, boosted by a 10.7% jump in Kering after second-quarter sales at its flagship brand, Gucci, fell less than expected.
Technology stocks fell 0.4% after South Korean chipmaker SK Hynix reported bumper quarterly results but fell short of lofty investor expectations, heightening market concerns about slower AI spending by big tech firms.
The policy statement from U.S. Federal Reserve Chair Kevin Warsh will also be watched for any hints on the central bank’s next likely move.
(Reporting by Purvi Agarwal in Bengaluru; Editing by Nivedita Bhattacharjee)
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