LONDON (The Deal) -- European stocks rose on Wednesday, taking their cue from Tuesday's Wall Street gains following dovish remarks from Federal Reserve Chair Janet Yellen.

In London, the FTSE 100 was up 1.42% at 6,192.31, while in Paris the CAC 40 was 1.38% higher at 4,426.74. In Frankfurt, the DAX climbed 1.34% to 10,020.75.

S&P 500 futures were up 0.48%. 

The morning jolt came a day after Yellen reasserted a cautious interest-rate policy, saying that "only gradual increases in the federal funds rate are likely to be warranted in coming years" given the current economic climate. Oil prices also gained, with Brent crude up 1.3% at $39.65 a barrel. 

In Europe, the bullish mood refused to be dampened by a fall in economic sentiment in the euro-area and the 28-member European Union, both seeing their third straight monthly decline. In the common-currency area, the gauge of executive and consumer confidence fell to 103.0 in March from 103.9 in February. 

Mining and commodities stocks led gains in London, with Anglo American (AAUKF)  up more than 10% and Glencore (GLNCY) , BHP Billiton (BHP) - Get Report  and Rio Tinto (RIO) - Get Report  all up more than 5%. 

Premier Foods climbed 7.25% after getting a sweetened offer from McCormick & Co. MKC, the Sparks, Md.-based spice and flavorings maker. The deal assigns Premier Foods an enterprise value of around GBP 1.5 billion ($2.16 billion). 

McCormick is now offering 65 pence a share in cash after seeing two previous offers of 52 pence and 60 pence a share fall flat. 

In a statement, McCormick said it believes its latest offer "is highly deliverable" due to limited pre-conditions of a review of material pensions documentation, current trading and material contracts. 

In Frankfurt, Metro surged 8.7% as investors welcomed a plan by the Düsseldorf-based retailer to split into two. 

Metro said it plans to demerge into a wholesale and food specialist group and a consumer electronics products and services group through a demerger, which still needs formal approval from the group's management and supervisory boards. 

In Tokyo, electronics maker Sharp (SHCAY)  rose 3.85% just before an announcement that Hon Hai Precision Industry Co., better known as Foxconn, had agreed to buy a controlling stake in Sharp for around $3.5 billion. 

Among Asian benchmark indices, the Nikkei slid 1.31% to 16,878.96 in Japan, while the Hang Seng added 2.15% to 20,803.39 in Hong Kong. 

Later Wednesday, the focus shifts back to the U.S. for MBA mortgage applications, the March employment report from the ADP Research Institute and crude inventories.