European Shares Edge Higher Before UK Budget

(RTTNews) - European stocks traded higher on Wednesday, adding to the previous session's gains amid Fed rate cut hopes and signs of progress in talks to end the war in Ukraine.

CBS News reported that a common understanding on a peace deal brokered by the Trump administration to stop Russia's nearly four-year assault had been reached, with details still to be worked out.

It was said that Ukrainian President Volodymyr Zelenskyy could travel to the U.S. before the end of November to finalize an agreement.

The British pound rose against the dollar ahead of the 2025 Autumn Budget being unveiled by Finance Minister Rachel Reeves.

The chancellor is likely to unveil series of tax hikes to fill black hole in public finances after changes to the minimum wage were announced on Tuesday.

The pan European Stoxx 600 was up 0.3 percent at 59.77 after climbing 0.9 percent on Tuesday.

The German DAX edged up by 0.2 percent, France's CAC 40 added 0.4 percent and the U.K.'s FTSE 100 was up 0.2 percent.

Aroundtown, one of Germany's largest listed landlords, slumped 5.1 percent after announcing its nine-month 2025 results and confirming FY25 guidance.

Eastern Mediterranean-focused gas producer Energean dipped 1 percent after raising its annual net debt forecast.