The European markets traded in the green on Wednesday, extending gains from the previous session. The British FTSE was last trading 0.3 percent higher. French CAC was also trading 0.6 percent higher. The biggest European market by volume, German DAX was trading 0.5 percent higher.

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The European markets ended higher on Tuesday. CAC and DAX ended 0.4 and 0.2 percent higher respectively.

Wall Street ended sharply higher on Tuesday. Dow ended 0.6 percent higher, while S&P and Nasdaq closed 1.2 and 1.6 percent higher, respectively.

The European markets are also taking cues from their Asian counterparts. Asian markets were trading mixed. Japan's Nikkei was last trading two percent higher. Hong Kong's Hang Seng and China's Shanghai Composite were trading 0.1 percent higher and flat respectively.

At the last count, Brent crude futures were trading 0.1 percent higher at $72.4 a barrel. US West Texas Intermediate futures, too, were trading 0.2 percent higher at $67.8 per barrel.

The Indian indices, Sensex and Nifty 50 hit all-time high on Wednesday. At the last count, the Sensex was trading above 64,000, while Nifty 50 was trading above 19,000.

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