European stocks trade broadly flat; gold lifts resources, tech slips
European shares were broadly flat as investors weighed Middle East uncertainty and awaited the minutes of the Fed’s July meeting; basic resources rose ~0.6% while technology fell ~0.4%.
European shares were broadly flat on Wednesday as investors remained cautious amid uncertainty in the Middle East and awaited the minutes of the Federal Reserve’s July meeting for further guidance on interest rates.
Gains in basic resources stocks, supported by firmer gold prices, provided some stability, with the sector rising around 0.6%.
In contrast, technology stocks were the weakest performers, falling about 0.4% as higher bond yields weighed on growth-sensitive shares.
Semiconductor stocks also came under pressure after reports that Anthropic’s annual revenue run rate reached $65 billion, falling short of some elevated market expectations.
Soitec dropped 4.4%, while Nordic Semiconductor and Scout24 lost more than 2% each.
Geopolitical tensions remained in focus after President Donald Trump said there were no ongoing talks with Iran and claimed the Strait of Hormuz was open.
Meanwhile, UK inflation accelerated to 2.9% in July from 2.6% in June, exceeding expectations.