U.K. lawmakers on Wednesday rejected the main opposition Labour party's bid to block a no-deal Brexit by seizing control of the parliamentary agenda from the government. Meanwhile, the favorite to succeed Prime Minister Theresa May, eurosceptic former Foreign Secretary Boris Johnson, launched hisConservative Members of Parliament will cast their first ballots for a new leader Thursday.
In mainland Europe, French President Emmanuel Macron announced plans to reduce unemployment benefits for high earners and offer incentives to those working beyond normal retirement age, two major components of a reform drive resulting from months of "yellow vest" protests. In Switzerland, the Swiss National Bank is set to release its financial stability report and monetary policy assessment Thursday, while a Eurogroup meeting of eurozone finance ministers takes place in Luxembourg.
In corporate news, Germany has raised 6.55 billion euros in its auction of spectrum for 5G mobile services, the Federal Network Regulator said after a contest lasting nearly three months that will see a fourth operator enter the market.