LONDON (ShareCast) - (ShareCast News) - European stocks began the day on the frontfoot, tracking big gains on Wall Street overnight as analysts appeared to shrug off the effects of the political infighting on Capitol Hill.
As of 0900 GMT the benchmark Stoxx 600 was edging higher by 0.17% to 377.96, alongside gains for the Dax of 0.64% to 12,227.46 and an advance of 0.13% for the FTSE Mibtel to 20,358.25.

In parallel, euro/dollar was off 0.23% at 1.0787 and front month Brent crude futures were higher by 0.85% to $51.77 a barrel on the ICE.

"Impressive macroeconomic data and a crude oil recovery saw US equity markets rally across the board as Trump policy uncertainty was made an afterthought for investors," said Mike Van Dulken, Head of Research at Accendo Markets.

For his part, Jim Reid at Deutsche Bank commented: "Many here at DB think that Trump trades had already been priced out to a large degree and therefore the disappointment over Friday's news may be limited. Firm global growth being the most important factor in where markets are trading.

"Trump reforms are still very important though especially if global growth slows. Without a big reform package the US is unlikely to be able to pick up the slack if any slowdown occurs. So we certainly don't want to downplay the political events but their ramifications may not be immediate."

The economic calendar was again quite sparse on Wednesday, although several analysts noted that European Central Bank chief economist Peter Praet was due to make a speech at 1650 GMT.

Away from the economic front, Dutch daily FD reported that US activist hedge fund Elliott Advisors had garnered the support of 25% of Akzo Nobel's shareholders in its push for the chemicals giant to engage in takeover talks with US rival PPG Industries.

Banca Popolare di Vicenza clocked-in with a full-year 2016 los of €1.9bn amid severe deposit outflows.

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