European Shares Rise On Solid Earnings

European stocks traded higher on Wednesday, with a slew of strong corporate earnings, steadier oil prices and lower bond yields helping underpin investor sentiment.

A cautious undertone prevailed, however, after Democrats took control of both houses of Congress in a dramatic win in the U.S. midterm elections, raising uncertainty over tech regulation, trade policy and the U.S. budget deficit.

Oracle has scrapped a multibillion-dollar chip leasing contract with China’s Tencent after U.S. officials raised concerns, the Financial Times reported.