Europe Markets: Europe stocks advance as traders return to Italian equities

Europe stocks trade higher on Wednesday, with traders bidding higher risky assets in early action.

After losing ground on Tuesday amid political upheaval in Italy, the Stoxx Europe 600 SXXP, +0.50%  rose 0.46% to 373.00, led by oil giants including BP BP, +0.78%   and Total FP, +0.82%  . Banks SX7E, +0.58%   also gained ground.

Italy’s FTSE MIB I945, +1.20%  , up about 12% for the year, rose 0.77% to 20643.95 as the nation waits for Italian President Sergio Mattarella to decide whether to hold fresh elections after the resignation of Prime Minister Giuseppe Conte on Tuesday.

The German DAX DAX, +0.47%  added 0.37% to 11694.15, the French CAC 40 PX1, +0.73%  gained 0.61% to 5377.37 and the U.K. FTSE 100 UKX, +0.44%  rose 0.4% to 7153.61.

Markets were awaiting fresh data on U.S. existing home sales, and after the European close, the release of minutes from the last Fed meeting.

After a 173-point drop in the Dow Jones Industrial Average DJIA, -0.66%   on Tuesday, U.S. stock futures ES00, +0.52%  were higher.

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