11:51 AM EDT, 07/22/2026 (MT Newswires) -- The European stock markets closed higher in Wednesday trading as strong earnings reports outweighed Persian Gulf turmoil among investors.

The Stoxx Europe gained 0.6%, Germany's DAX rose 0.6%, the FTSE 100 advanced 1.2%, France's CAC increased 1%, and the Swiss Market Index was up 0.2%.

In the UK, the annual consumer prices index rose 2.6% in the 12 months to June, down from 2.8% the previous month. Analysts polled by Bloomberg expected a 2.7% rise. On a monthly basis, CPI rose 0.1% in June, compared with a 0.3% rise a year earlier, which met analyst forecasts.

In corporate news, Airbus is considering launching a stretched version of its A350 widebody aircraft to compete with Boeing's delayed 777X, with a decision possible within the next 12 months, The Wall Street Journal reported Wednesday, citing Rolls-Royce CEO Tufan Erginbilgic.

The report said the proposed aircraft, often referred to as the A350-2000, would carry more passengers than current A350 models and could enter service in the early 2030s.

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

Shares of Airbus climbed more than 7% in Paris.

Equinor reported Q2 adjusted earnings Wednesday of $1.33 per diluted share, up from $0.64 a year earlier. Analysts polled by FactSet expected $1.38.

Revenue for the quarter that ended June 30 was $35.18 billion, up from $25.15 billion a year earlier. Analysts surveyed by FactSet expected $34.03 billion.

The board has decided on a cash dividend of $0.39 per share for Q2. The board has also decided to initiate a third tranche of the share buy-back program of up to $1.13 billion for 2026. The tranche will commence on July 23 and end no later than Oct. 26.

Shares of the Norwegian petroleum refiner advanced 4.2% in Oslo.

Banco Santander reported Q2 earnings Wednesday of 0.25 euro ($0.29) per share, up from 0.23 euro a year earlier. An analyst polled by FactSet expected 0.30 euro.

Revenue for the quarter ended June 30 was 15.71 billion euros, up from 15.14 billion euros a year earlier. Analysts polled by FactSet expected 15.66 billion euros.

For 2026, the Spanish bank expects higher profits and affirmed its previous guidance of mid-single-digit revenue growth.

Shares of Banco Santander gained 1.4% in Madrid.

Shell resumed operations at a 200,000-barrel-per-day crude oil unit at its Pernis oil refinery in the Netherlands on Monday following a brief disruption, Reuters reported Tuesday, citing an alert from consultancy Wood Mackenzie.

The crude unit closed Saturday along with a 25,600-barrel-per-day vacuum distillation unit, which remained offline, the report said.

Shell declined MT Newswires' request for a comment.

Shares of Shell increased 1.4% in London.

Italian oil and gas company Eni said Wednesday that it generated first industrial electricity from the 120-megawatt gas power plant at the 247-MW Mangystau Hybrid Power Plant in Kazakhstan.

The company said the project, developed with KazMunayGas and Eni subsidiary Plenitude, is Kazakhstan's first large-scale hybrid power plant, combining solar, gas and planned wind generation.

Shares of Eni closed 2% higher in Milan.

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