European shares climb as global stock markets hover near record highs

LONDON — European markets were higher on Wednesday to kick off the final trading week of 2023, as major indexes around the world hovered near record highs.

The pan-European Stoxx 600 index was last 0.25% higher at 11:41 London time after an uncertain open. Oil and gas and technology stocks both added close to 1% to lead gains as most sectors and major bourses entered positive territory.

The European blue chip index traded around the 478.8 mark, not far below the index’s record closing high of 483.44 notched in November 2021.

Stock markets in Europe were closed on Monday and Tuesday in observance of Christmas Day and Boxing Day.

Stateside, the S&P 500 is also seeking an all-time high after another winning day on Wall Street on Tuesday. U.S. stock futures were mostly flat in early premarket trade on Wednesday.

Shares in Asia-Pacific advanced overnight, with Chinese and Hong Kong indexes bouncing on the back of a strong showing for video game stocks. Australia’s S&P/ASX 200 hit its highest level since April 2022.

Trading volumes are expected to be thin during the last three days of the trading year, with fewer data points on the economic calendar and all major central bank meetings out of the way.