European stocks rose on Wednesday, with investors in the region focused on the upcoming meeting between US, Greenlandic and Danish officials to discuss the future of the Arctic island.
The pan-European STOXX 600 index rose 0.3% to 612.47 points, Germany’s DAX index climbed 0.1% to 25,458.93 points, Britain’s FTSE index rose about 0.2% to 10,165.41 points, and France’s CAC index climbed about 0.5% to 8,393.93 points.
All eyes are on a meeting scheduled for Wednesday between US Secretary of State Marco Rubio and officials from Greenland and Denmark, where talks will focus on US President Donald Trump’s repeated attempts to “buy” this semi-autonomous Danish territory.
Denmark and Greenland have repeatedly asserted that the Arctic island is not for sale, while Trump has hinted at the possibility of using military force to seize the mineral-rich island.
European defense stocks rose slightly at the start of the session, supported by geopolitical tensions related to discussions about Greenland, protests in Iran, and the events surrounding the ouster of Venezuelan President Nicolas Maduro last week, which boosted demand for defensive stocks amid growing demand for military equipment.
While Japanese stocks hit record highs on expectations of early elections, US futures were relatively stable after the S&P 500 retreated from record highs. Europe released no major economic data or earnings reports on Wednesday.
