Major European benchmarks closed higher following a mixed session Wednesday, with commodity price-falls acting as a weight on markets to partially offset gains from elsewhere.
Crude oil prices were the biggest drag on many markets after Russia ruled out further production cuts, saying they would send the wrong signals to the market, prompting a 3.5% fall in the price of Brent crude.
The FTSE 100 in London, which has a significant weighting to oil and gas, rose 0.11% to 7,365 for the session, while its mid-market junior sibling, the FTSE 250, added 0.70% to settle at 19,464.
In Frankfurt, the DAX index gained 0.13% before coming to rest at 12,454, while in Paris, the CAC 40 added 0.10% to close at 5,180.
Tesco rose after its acquisition target, the wholesaler Booker, reported solid quarterly sales numbers. This is while Provident staged a recovery in the wake of June's profit-warning induced selloff.
Persimmon (PSMMF) led the U.K. house-building sector higher Wednesday after it reported double-digit revenue growth for the first half, driven by an ever present supply-and-demand disparity in the British housing market.
The U.K.'s second-largest builder said revenue grew 12% to £1.66 billion ($2.14 billion) for the six months ending June 30, with the top line expansion driven by an 8% increase in completions and 3.5% price growth.
Nokia (NOK - Get Report) gained more than 1% in Paris during the session after it said it has signed a patent licensing deal with China's Xiaomi Technology, a handset maker, which could mark the beginning of a broader licensing push into the Asian nation.
Adidas reaped the benefits of an upgrade from analysts at HSBC while the German borse snapped a two-week long correction after unveiling a strong volume performance across cash markets in June.
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