Shares in Europe were higher in morning trade on Wednesday as investors took cues from a Trump rally in Wall Street and Asia and as markets digested fresh earnings reports. Banks were also higher in early trade. Specifically, Deutsche Bank is planning to announce a partial initial public offering of its asset management unit, in a move that has skyrocketed the bank’s shares by 2 percent. In today’s European markets, Germany’s DAX added 1.3 percent, U.K.’s FTSE 100 added 0.6 percent, France’s CAC 40 climbed 1.1 percent while the Euro Stoxx 50 advanced 1.2 percent as of 9:30 GMT.
French utility giant Electricite de France or EDF, has announce on Tuesday that its Board has approved plans to shut down the Fessenheim nuclear power plant. It should be noted that Fessenheim is France’s first and oldest nuclear plant. The board has also approved a plan for state compensation for the damages that will be suffered by the company from the shutdown. It is also important to note, that the old plant will be replaced by a new-generation plant. The decision to close the plant, which is near the German border, was due to much pressure from Germany and environmental activists while the German government also asked France to shut down Fessenheim
Heavy pollution enveloped much of Europe in the past week and has prompted emergency measures across the continent. Extreme cold and the heavy burning of coal and wood for heating has left many E.U. regions shrouded in smog. In several countries, including Britain, France and Belgium, officials have cautioned against physical exertion for children and the elderly. Citizens were advised to remain indoors, hundreds of flights have been canceled, speed limits have been reduced and polluting vehicles have been ordered off the roads in an effort to reduce the threatening cloud of smog that has been enveloping the Union.