Europe open: Stoxx edges up; Arms makers in focus after EU fund approved

(Sharecast News) - Europe shares were up at the open on Wednesday as investors eye the latest on US-EU trade talks and looked ahead to earnings from latest tech darling Nvidia.

The pan-regional Stoxx 600 index was up 0.11% at 552, with major bourses mixed. Germany's DAX hit another record high, with a gain of 0.18% to 24,305.

In equity news, weapons makers were in focus after the European Union on Tuesday approved the creation of a €150bn landmark fund to boost defence capabilities amid tensions with Russia and a wavering of US commitments in the region.

The fund is designed to overcome national barriers by funding joint defence projects across EU nations, with a strong emphasis on supporting the European defence industry.

Shares in Leonardo, Thales, Dassault, Rheinmetall, BAE, Saab and Rolls-Royce were all higher on the news.

Kingfisher shares fell after the UK and French home improvement retailer released first-quarter results.

Reporting by Frank Prenesti for Sharecast.com