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7/3, 9:16 AM (Source: TeleTrader)
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European stocks higher with EC elections in focus

Equities on major stock markets in Europe traded lower shortly after the opening bell on Wednesday with the changes to the European Union's leadership in focus. The European Council elected Belgian interim Prime Minister Charles Michel as its president while nominating German Defense Minister Ursula von der Leyen and Christine Lagarde to head the European Commission and the European Central Bank respectively. Meanwhile, on data, IHS was set to release PMI reports for the European Union, Germany, and the United Kingdom.

In London, the FTSE 100 was up 0.36% at 9:15 am CET as Fresnillo plc gained 1.51%. Germany's DAX rose 0.32%, helped by Vonovia SE's 2.23% jump. The CAC 40 in France increased 0.22%, with Pernod Ricard grew 0.87%.

The euro was 0.12% lower against the dollar to sell for $1.12711 at 9:14 am CET while the pound lost 0.27% to sell for $1.25601 at the same time.

Breaking the News / MD