European equities were higher on Wednesday as investors eyed developments in the Middle East and awaited earnings reports from major US technology companies, supported by gains in mining and energy stocks, Reuters reported.

The pan-European STOXX 600 index rose 0.35% to 648.54 points by 0704 GMT, with commodity-linked sectors emerging as the biggest gainers.

Mining stocks advanced 1.5%, helped by a strong performance from Glencore, which rose 4% after reporting a 15% rise in copper output in the first half due to improved grades at key operations.

Energy shares rose 1.6% as crude oil prices rose, with Brent futures up 3% to above $86 a barrel. The increase comes after a joint strike by the US and Saudi Arabia in Iraq, which raised concerns of a further escalation in the ongoing US-Iran conflict. According to the report, investors were closely tracking geopolitical developments along with broader market cues.

As the European earnings season got underway, market participants remained focused on a mix of corporate results and macroeconomic indicators. Personal and household goods stocks rose 1.2%, helped by a 10.7% jump in Kering shares as sales of its flagship Gucci brand fell less than analysts expected in the second quarter.

However, technology stocks fell 0.4% after South Korean chipmaker SK Hynix posted strong quarterly results but fell short of elevated market expectations. The report noted that the results added to investor concerns over the pace of artificial intelligence-related spending by major technology companies.

Investors were also awaiting cues from US Federal Reserve Chairman Kevin Warsh’s policy statement, which provided clues on the central bank’s future monetary policy direction and outlook for interest rates.