The European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 gained 0.49%, Germany's DAX was up 0.8%, the FTSE 100 increased 0.14%, France's CAC 40 advanced 0.53%, and the Swiss Market Index rose 0.47%.

The European Commission adopted a new water resilience strategy aiming to secure clean, affordable water, restore the water cycle and foster a sustainable water economy. The commission said that the strategy consists of over 30 actions to tackle climate impacts and boost competitiveness.

Euro area bank interest rates generally declined in April, with composite costs of borrowing for new corporate loans decreasing by 14 basis points to 3.79% while new household mortgage rates fell 5 basis points to 3.27%, the European Central Bank said. Deposit rates for both corporations and households also saw reductions, reflecting a broader easing in borrowing and deposit conditions across the euro area.

In the UK, sickness absence fell to 2% in 2024 down 0.3 percentage points from 2023, with 148.9 million working days lost, according to the Office for National Statistics. Minor illnesses remain the top reason. Women, older workers, those with long-term conditions, part-time staff, and public sector employees showed higher rates.

The number of income millionaires in Germany increased to 34,500 in 2021, up 18% from 2020, Germany's Federal Statistical Office said. While inflation explains some of this, the growth still outpaced historical averages, and most millionaires primarily earned income from businesses.

Shares of B&M European Value Retail slipped over 13% in Wednesday trading on the FTSE after the company reported preliminary fiscal 2025 results. B&M European Value Retail said group revenue for the 52 weeks ended March 29 increased to 5.57 billion British pounds ($7.55 billion) from 5.37 billion pounds a year earlier, while adjusted earnings declined to 0.34 pounds per share from 0.36 pounds a year earlier.

STMicroelectronics shares were up 11% on the Paris exchange after CEO Jean-Marc Chery said the company expects 5,000 employees to leave in the next three years, including 2,800 jobs eliminated earlier this year. About 2,000 workers will leave STMicroelectronics due to attrition, Chery added.