Europe stocks fluctuate; OPEC deal on the radar

European stock markets traded marginally higher on Wednesday morning with investors closely following political developments in Italy and a potential OPEC deal.

The pan-European Stoxx 600 was higher after fluctuating as the session opened. Basic resources stocks fell by more than 1.5 percent with the price of metals continuing to tick lower on Wednesday.

Meanwhile, The Royal Bank of Scotland (RBS) announced a revised capital plan on Wednesday after failing a stress test from the Bank of England. Its shares dropped more than 2.3 percent following the results. Standard Chartered and Barclays were also lower after the release of the results.

OPEC deal in the balance

Oil markets were jittery on Wednesday asOPEC members gathered in Vienna trying to reach an agreement on a production cut. However, investors are concerned that a deal may not be reached between the group and oil prices could subsequently sink due to oversupply in the market.

Sage Group published its full-year results on Wednesday with operating profits coming in at £300 million ($374 million). Its shares were at the top of the FTSE 100, rising 1 percent.

On the data front, there will be the release of euro zone flash inflation at 10 a.m. London time.

Source: CNBC