European shares closed higher on Wednesday, as banking stocks with a heavy exposure to Russia pared losses and energy stocks rebounded as oil prices recovered some ground.
The pan-European Euro Stoxx 600 Index ticked higher to close up around 0.3 percent, following another volatile day of trading. London’s FTSE closed 0.3 percent higher, Germany’s DAX unofficially ended flat and the French CAC closed up around 0.46 percent.
Energy and mining stocks were the major outperformers, despite opening the session in negative territory. Russia-exposed stocks were the major laggards, with Russia’s economic turmoil remaining at the forefront of investors’ minds. Lenders like Raiffeisenbank and Societe Generale saw heavy losses on Wednesday before pulling back.
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