(Sharecast News) - European shares opened higher on Wednesday as traders assessed reports that the US and Ukraine may have struck a deal on minerals to compensate Washington for military aid against Russia.
The pan-regional Stoxx 600 was up 0.45% to 556.74 in early deals with major bourses higher on another heavy earnings day.

Reports emerged overnight that Ukraine President Volodymyr Zelenskyy was planning to travel to Washington on Friday to see his US counterpart Donald Trump to sign the agreement.

The Financial Times reported that Kyiv was ready to sign the agreement on jointly developing its mineral resources, including oil and gas, after the US dropped demands for a right to $500bn in potential revenue from the deal, which Zelenskyy said would force "10 generations" of Ukrainians to pay it back.

In economic news, Germany's GfK Consumer Sentiment Index for March declined further to -24.7 from -22.6, missing expectations of -21.1.

February data showed income expectations plunging -4.3 points to -5.4, marking a 13-month low, while the economic outlook for the next 12 months improved slightly by 2.8 points to 1.2.

In equity news Budweiser maker AB Inbev surged after the company reported better-than-expected fourth-quarter sales.

Recruitment giant Adecco gained despite a 14% annual drop in full-year operating income, conversely Wolters Kluwer slumped as the Dutch information services company reported a rise in annual profit.

Stellantis fell as the troubled auto giant posted a 70% fall in 2024 net profit.

Reporting by Frank Prenesti for Sharecast.com

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