The European markets gained in the trade on Wednesday, after data showed that British inflation rate cooled more than expected, falling to the lowest level in more than a year. The British FTSE was last trading 1.2 percent higher. French CAC was trading 0.8 percent higher. The biggest European market by volume, German DAX was also trading 0.7 percent higher.

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The European markets closed higher on Tuesday. CAC and DAX rose 0.4 percent each, while FTSE ended 0.6 percent higher.

Wall Street ended higher in the previous session boosted by bank stocks. Dow ended 1.1 percent higher, while S&P and Nasdaq closed 0.7 and 0.8 percent higher, respectively. Dow ended in the green for seventh session in a row, longest gaining streak since March 2021 and at its highest level since April 2022.

The European markets are also taking cues from their Asian counterparts. Japan's Nikkei was last trading 1.2 percent higher, while China's Shanghai Composite was marginally higher. Hong Kong's Hang Seng was trading 0.1 percent lower.

At the last count, Brent crude futures were trading 0.1 percent lower at $79.6 a barrel. US West Texas Intermediate futures, too, were trading 0.2 percent lower at $75.6 per barrel.

The Indian indices touched fresh record highs in the trade on Wednesday. At the last count, Sensex was up 100 points, and Nifty 50 was trading above 19,750.

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