Major European Markets Close Higher

(RTTNews) - Major European markets closed higher on Wednesday despite struggling for direction at times during the session.

Worries about surging coronavirus cases across the continent and elsewhere, and uncertainty surrounding interest rate outlook rendered the mood cautious.

Investors looked ahead to the U.S. Federal Reserve's minutes of its December 14-15, 2021 policy meeting for clues about the timing of any rate hikes.

The pan European Stoxx 600 edged up 0.07%. The U.K.'s FTSE 100 gained 0.16%, Germany's DAX climbed 0.74% and France's CAC 40 advanced 0.81%. Switzerland's SMI edged up marginally.

Among other markets in Europe, Austria, Finland, Ireland, Norway, Poland and Turkey closed higher.

Belgium, Czech Republic, Denmark, Greece, Iceland, Netherlands, Portugal, Russia and Sweden ended weak, while Spain closed flat.

In the UK market, Ocado Group climbed 3.2% following a rating upgrade. Anglo American Plc, Kingfisher and BHP Group gained 2.8%, 2.4% and 2.1%, respectively.

Rio Tinto, Ashtead Group, BT Group, Flutter Entertainment, Pearson, Lloyds Banking Group, JD Sports Fashion and B&M European Value Retail also closed sharply higher.

Scottish Mortgage shed 3.25%. Polymetal International ended lower by 2.6%, while Rentokil Initial, Experian, Prudential, 3I Group and Intermediate Capital Group shed 1.4 to 2%.

In Paris, Renault rallied 5.3% after the semiconductor giant Qualcomm signed several agreements with the auto-manufacturer over the supply of semiconductor chips.

Carrefour gained 5.3%, WorldLine and Kerring both moved up nearly 3%, while Unibail Rodamco, ArcelorMittal, Valeo, Michelin and Atos gained 2 to 2.5%.

Stellantis shares gained more than 4% on news that Amazon will partner with the company to develop cars and trucks with the U.S. tech giant's software.

Capgemini, Air France-KLM and Veolia declined sharply.

In the German market, Daimler gained 4%. BMW, Volkswagen and Porsche Automobil gained 2.2%, 2.15% and 1.75%, respectively. Covestro, Linde, Deutsche Bank, Siemens, Deutsche Wohnen, Munich RE, Henkel and Continental moved up 1.2 to 2.2%.

Merck, Sartorius and RWE lost 3.3 to 3.8%. Fresenius Medical Care, E.ON, HelloFresh and Fresenius declined 1.3 to 2%.

In economic releases, the euro zone services PMI was finalized at 53.1 in December, down from November's 55.9. The Composite PMI was finalized at 53.3, down from November's 55.4, signaling the softest expansion in combined manufacturing and services output since March.

French consumer confidence unexpectedly improved in December, survey results from the statistical office Insee showed on Wednesday.

The consumer sentiment index fell to 100 in December from 98 in November. The score was forecast to fall to 97.

The survey showed that households' opinion balance related to their past financial situation increased two points to -17 and the one relative to their future personal financial situation remained stable at -8.

Further, the share of households considering it is a suitable time to make major purchases advanced to -12 from -15.