European stocks open higher
German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, March 10, 2025.
Staff | Reuters
It’s around 25 minutes since the opening bell, and European stocks are broadly trading in positive territory.
The pan-European Stoxx 600 index was last seen up by around 0.3%, with all major bourses in the green. France’s CAC 40 is up by 0.4%, while London’s FTSE 100 has gained 0.2% and the German DAX is trading flat.
— Chloe Taylor
Sterling strengthens after hitting 3-year high
The British pound was marginally higher against the U.S. dollar this morning and was last seen trading at around $1.363.
On Tuesday, sterling had hit its highest level versus the greenback since January 2022.
GBP/USD price
The pound was up by around 0.1% against to trade at 1.173 euros on Wednesday morning.
— Chloe Taylor
Here are the opening calls
The City of London skyline at sunset.
Gary Yeowell | Digitalvision | Getty Images
Good morning from London, and welcome to CNBC’s live blog covering European financial markets action on Wednesday, and the latest regional and global business news, data and earnings.
Futures data from IG suggests a positive start for European markets, with London’s FTSE looking set to open unchanged at 8,764, Germany’s DAX up 0.2% at 23,699, France’s CAC 40 flat at 7,625 and Italy’s FTSE MIB also up 0.3% at 39,673.
Global market sentiment rose Tuesday on bets that the ceasefire between Iran and Israel could last, after a shaky start to the truce that saw President Donald Trump lambast both countries for violations.
Traders are also digesting the latest comments from the U.S. Federal Reserve Chair Jerome Powell, who said Tuesday that the central bank was committed to keeping inflation in check, and would likely keep rates steady until there’s more clarity on how trade tariffs might affect prices.
Powell said policymakers were “well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
— Holly Ellyatt
What to keep an eye on today
The NATO summit in the Netherlands.
Haiyun Jiang | Via Reuters
European markets will be keeping a close eye on events in the Middle East on Wednesday to see if a fragile ceasefire continues between Israel and Iran.
Meanwhile, the NATO summit in the Netherlands concludes Wednesday, with the alliance’s 32 member states expected to issue a formal joint statement on hiking their defense spending target from 2% to 5% by 2035. President Donald Trump joined the summit Tuesday evening.
CNBC’s Steve Sedgwick is in The Hague for the gathering and will be speaking to Finnish President Alexander Stubb and German Foreign Minister Johann Wadephul today.
On the data front, French consumer confidence and Spanish gross domestic product figures are due.
— Holly Ellyatt
