Investing.com - European stocks were mostly higher on Wednesday, ahead of a string of manufacturing and service sector data due later in the trading session and as investors remained cautious ahead of this week's Jackson Hole summit.
During European morning trade, the EURO STOXX 50 gained 0.30%, France’s CAC 40 added 0.33%, while Germany’s DAX 30 rose 0.28%.
Traders were looking ahead to this week's annual meeting of top central bankers and economists in Jackson Hole, Wyoming, where the heads of the U.S. and European central banks will be making keynote speeches.
Investors are especially awaiting speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi on Friday, though neither is expected to announce new policy messages.
Earlier Wednesday, preliminary data showed that French private sector activity continued to grow this month, boosting the outlook for the euro zone’s second largest economy. Investors were still awaiting data for Germany and the entire euro zone.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) added 0.05% and 0.37%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) rose 0.26% and 0.37 %.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) gained 0.21% and 0.74% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) edged up 0.19% and 0.16%.
Meanwhile, energy-related stocks were mixed amid declining oil prices on Wednesday morning. French oil and gas major Total SA (PA:TOTF) saw shares rise 0.25 %, while Spain's Repsol (MC:REP) slipped 0.11 % and Norwegian rival Statoil (OL:STL) dropped 0.82 %.
Elsewhere, Publicis Groupe SA (PA:PUBP) tumbled 1.98 % named Emmanual Andre its first chief talent officer on Tuesday.
In London, FTSE 100 slipped 0.14%, weighed by WPP (LON:WPP), whose shares dove 8.85 % after the advertising company cut its full-year revenue forecast due to lower spending by customers.
Provident Financial (LON:PFG) was also on the downside for the second consecutive session, retreating 3.39 % in European morning trade, after the group said on Tuesday it now expects losses of £80 million to £120 million.
Mining stocks were mostly lower on the commodity-heavy index, as Glencore (LON:GLEN) eased 0.04 % and Rio Tinto (LON:RIO) dipped 0.07 %, while BHP Billiton (LON:BLT) edged down 0.11 %.
BHP Billiton saw shares climb on Tuesday after reporting a surge in underlying full-year profits and announcing plans to exit its U.S. shale oil and gas business.