The European markets rose for the first time in three days on Wednesday, as speculation grew about increased mergers and acquisition activities and heavily weighted energy stocks rallied after crude oil prices jumped past the $83 a barrel mark.
Crude for April delivery fell $0.17 to $81.32 a barrel on the New York Mercantile Exchange, by the time the European markets closed. The contract rose as high as $83.03 a barrel earlier in the session after a U.S. government report showed that the country's crude stockpiles grew less than analysts had predicted.
The FTSEurofirst 300 index of pan-European blue chips closed 0.60% higher at 1,058.81 points, while the narrower DJ Stoxks 50 index rose 0.44% to 2,588.66 points.
Around Europe, the U.K.'s FTSE 100 index rose 0.68% to 5,640.57, while France's CAC 40 index surged up 0.86% to 3,943.55 and Germany's DAX index climbed 0.86% to 5,936.72.
ICAP, the world's largest inter-dealer broker, rallied 4.5% after rival Tullett Prebon said it is in early talks with an undisclosed bidder that may lead to an offer.
Barratt Developments, Britain's biggest homebuilder, climbed 5.6% amid speculation that the company may receive a takeover approach from rival Persimmon.
Oil stocks gained after crude oil prices hit the $83 a barrel mark. BP, Europe's biggest oil company, rose 0.9%, while Royal/Dutch Shell, the second biggest, climbed 1.5% and Total, the second biggest, surged up 1%.
Fortis, Belgium's biggest life insurer, rose 3.1% after the company reported full year profit that beat analysts' estimate.
German technology firm Aixtron rallied 8% after the company reported a 95% jump in its full year profit.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.