European Shares Nudge Up Amid Fed Minutes Anticipation and Resource Gains

European shares edged up on Wednesday, driven by gains in mining stocks. Investors are keenly awaiting the minutes from the U.S. Federal Reserve's July meeting, which could influence global monetary policy. Basic resources rose as Shanghai aluminium futures hit a multi-week high, while European stocks also reacted to data on U.S. labor market revisions and oil prices.

European shares saw a slight uptick on Wednesday, buoyed by gains in the mining sector. Investors are awaiting the minutes from the U.S. Federal Reserve's July meeting, expected later in the day, to understand future directions in global monetary policy.

The pan-European STOXX 600 index rose 0.2%, ending at 513.11 points. The index had snapped its five-day winning streak on Tuesday. Basic resources climbed 1%, supported by a five-week high in Shanghai aluminium futures due to raw material supply issues.

With no significant data releases from Europe, investors are focused on U.S. Fed minutes, expected at 1800 GMT. These could reiterate a dovish stance. Additionally, U.S. labor data revisions are anticipated at 1400 GMT. Market analysts, including Fiona Cincotta from City Index, expect the data could show a weaker labor market, potentially triggering more aggressive rate cuts from the Fed.

Oil and gas sectors were the day's top decliners due to a rise in U.S. crude inventories. Among individual stocks, Demant rose 3.7% after an upgrade from Morgan Stanley, while Alcon dropped 2.8% following less-than-expected second-quarter sales. Aaron Barnfather of Lazard Asset Management noted that Europe is becoming more shareholder-friendly, highlighting significant buyback activities as an untapped opportunity for international investors.

(With inputs from agencies.)