European stocks opened broadly higher on Wednesday, extending the positive momentum from earlier in the week as investor optimism grew that the record-long US government shutdown is finally nearing an end.
The pan-European Stoxx 600 index rose 0.4% shortly after the opening bell, with most major bourses in positive territory.
Germany’s DAX led the gains with a 0.7% rise, while the UK’s FTSE 100 climbed 0.2%, trading near its all-time high.
US shutdown hopes continue to buoy markets
The primary driver for the positive sentiment remains the political breakthrough in Washington, where the Senate has passed a spending bill to reopen the government.
The bill has now moved to the House of Representatives for a final vote, and its expected passage has provided a tailwind for global risk assets.
A busy day of corporate earnings in Europe also provided several positive catalysts.
German semiconductor firm Infineon Technologies raised its 2026 revenue target for its AI data center power supply business to around €1.5 billion, citing soaring demand.
The company also posted full-year revenue of €14.7 billion, slightly ahead of analyst expectations.
Meanwhile, credit data firm Experian projected its full-year revenue growth would hit 11%, the top end of its previous outlook.
The world’s largest credit-reporting firm is benefiting from a nascent recovery in US lending and strong demand for its data analytics and fraud-prevention tools.
SoftBank plunge weighs on Asian tech
While European markets rallied, the mood in Asia overnight was more subdued, largely due to a dramatic sell-off in shares of SoftBank Group.
The Japanese conglomerate’s stock fell as much as 10% after it announced the sale of its entire $5.83 billion stake in US chipmaker Nvidia.
The news from SoftBank, coupled with a rotation out of technology names on Wall Street, created a mixed picture for the region.
In the US, stock futures were relatively flat in early Wednesday trade.
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