11:49 AM EDT, 04/01/2026 (MT Newswires) -- European stock markets were tracking sharply higher in Wednesday trading as investors were encouraged by President's Trump's claim that the war in the Middle East could be over in two or three weeks.

The Stoxx Europe 600 climbed 2.5%, Germany's DAX surged 2.7%, the FTSE 100 was up 1.7%, France's CAC was advancing 2.1%, and the Swiss Market Index was increasing 1.6%.

Falling oil prices were sending energy stocks sharply lower in Wednesday trading as BP and Shell were falling 4.9% and 3.8%, respectively, on the FTSE 100 in London, while TotalEnergies was losing 4.2% in Paris, and Eni was dropping 4.6% in Milan.

Meanwhile, bank stocks were rallying as NatWest and Barclays advanced 5.7% and 5.1%, respectively, in London, followed by HSBC, which was up 4.6%. Commerzbank and Deutsche Bank were climbing 5.2% and 4.6%, respectively, on the DAX. In Paris, Societe Generale and BNP Paribas were gaining 7% and 5%, respectively, followed by Credit Agricole, which rising close to 4%.

The seasonally adjusted unemployment rate for February was 6.2% in the euro area, up from 6.1% in January, and down from 6.3% a year earlier, according to Eurostat, the statistical office of the European Union.

And in corporate news, Unilever's plan to merge its food business with McCormick & Company to sharpen its focus on its faster-growing personal care and home segments has received backing from Artisan Partners, Reuters reported Tuesday.

The transaction will result in a merged company valued at about $65 billion, making it one of the largest in the food sector, behind the Kraft Heinz merger, Reuters said.

Unilever did not immediately respond to MT Newswires' request for comment.

Shares of the consumer goods giant were off 0.4% in London.

GSK and Japan's Shionogi said Wednesday that the latter has completed its acquisition of 11.7% stake in ViiV Healthcare from Pfizer (PFE) for about $2.13 billion.

Under the terms, Pfizer received $1.88 billion while GSK received a special dividend of $250 million, payable in British pounds, the companies said.

Shares of GSK were moving close to 2% higher in London.

Banco Santander is preparing significant risk transfers tied to $2 billion of US corporate loans and more than 1 billion pounds ($1.33 billion) of commercial real estate loans in the UK, Bloomberg reported Wednesday, citing people familiar with the matter.

Santander did not immediately reply to a request for comment from MT Newswires.

Shares of the Spanish bank were gaining more than 5% in Madrid.

Novo Nordisk's Wegovy is being recommended as a weekly injection for patients with obesity and other cardiovascular problems by the UK's National Institute for Health and Care Excellence, which made the announcement Wednesday.

The specific recommendation is for patients who have had a heart attack, a stroke, or a serious circulation problem in the legs and with a body mass index of at least 27 kilograms per square meter, the health regulator said.

Shares of the Danish pharmaceutical company were rising 2.6% in Copenhagen.

Shell is in advanced discussions with Venezuela to develop four offshore areas near Trinidad and Tobago, including parts of the Dragon and Loran fields, Reuters reported Wednesday, citing two people familiar with the discussions.

The projects could add up to about 20 trillion cubic feet of gas, which Shell plans to send to Trinidad for LNG processing, boosting its Atlantic LNG operations that have struggled with supply shortages, the report said.

Shares of the oil and gas company were tracking close to 4% lower in London.

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