European Stocks Little Changed on Wednesday
European stocks were broadly flat on Wednesday, with the Euro Stoxx 50 and Stoxx 600 little changed as gains in Germany and Italy offset a decline of more than 1% in Spain following a rail crash that killed 68 people. UK and French markets were also subdued. Sector performance was mixed, with oil and gas stocks rising over 1% as renewed Middle East tensions pushed crude prices higher on supply disruption concerns. Automobiles and parts gained more than 1%, while utilities advanced over 0.5%. Media stocks fell nearly 2%, and miners, household goods and chemicals also weakened. Among individual shares, Logitech plunged 10% on supply chain concerns, while GSK dropped 5% after disappointing investors with its results. Banco Santander slid 5.5% following lower net profit, and UBS lost 1%. Mercedes-Benz edged up 0.4% despite cutting its outlook, while BNP Paribas rose 0.3%. Worldline gained 5%, Standard Chartered climbed 2.7%, and Deutsche Bank advanced 4% on stronger results or guidance.
European stocks were broadly flat on Wednesday, with the Euro Stoxx 50 and Stoxx 600 little changed as gains in Germany and Italy offset a decline of more than 1% in Spain following a rail crash that killed 68 people. UK and French markets were also subdued. Sector performance was mixed, with oil and gas stocks rising over 1% as renewed Middle East tensions pushed crude prices higher on supply disruption concerns. Automobiles and parts gained more than 1%, while utilities advanced over 0.5%.
Media stocks fell nearly 2%, and miners, household goods and chemicals also weakened. Among individual shares, Logitech plunged 10% on supply chain concerns, while GSK dropped 5% after disappointing investors with its results. Banco Santander slid 5.5% following lower net profit, and UBS lost 1%. Mercedes-Benz edged up 0.4% despite cutting its outlook, while BNP Paribas rose 0.3%.
Worldline gained 5%, Standard Chartered climbed 2.7%, and Deutsche Bank advanced 4% on stronger results or guidance.