(Reuters) – European shares rose on Wednesday as investors welcomed dovish comments from Federal Reserve Chair Jerome Powell and looked ahead to the second round of the French vote and a national election in the UK.
The pan-European index gained 0.3% by 0709 GMT, rising for a second of the past seven sessions.
Wall Street’s benchmark closed above the 5,500 mark on Tuesday after Powell told a panel that recent data represented “significant progress” while adding that the Fed needed to see more before changing policy.
French stocks climbed 0.4% as opponents of France’s National Rally (RN) stepped up their bid to block the far-right party from power, with more candidates agreeing to pull out of this weekend’s run-off election to avoid splitting the anti-RN vote.
The UK’s also added 0.4% ahead of the July 4 election, which could see a possible end to 14 years of Conservative government. ()
Volkswagen (ETR:) edged up 0.4% after U.S. electric vehicle maker Rivian (NASDAQ:) denied a media report about its extended partnership with the German automaker.
Bpost tumbled 10.2% after the Belgian postal operator issued a downbeat full-year earnings forecast, citing unfavourable market conditions in North America.