European shares edge higher as oil falls; Nvidia earnings in focus

According to Business Recorder, the STOXX 600 index across Europe rose 0.1 per cent to 657.34 by 0703 GMT on Wednesday. Basic resources were the strongest group, climbing 0.9 per cent. The gains came as lower oil prices pulled bond yields down, with traders hoping the Strait of Hormuz could reopen soon.

Brent crude futures slipped for a third consecutive session, losing more than 2 per cent to about $86 a barrel. Iran reported renewed discussions with Oman about how the strait should be managed, as US President Donald Trump increased pressure during a war that has lasted nearly six months. The energy index fell 1.1 per cent, making it the weakest sector in the STOXX 600.

Investors are now waiting for Nvidia's second-quarter results, due later in the day, to judge whether AI-related spending can keep supporting high valuations. Technology shares dipped 0.2 per cent ahead of the release. A key US inflation report also due on Wednesday is drawing attention as traders look for guidance on Federal Reserve interest rates.