FX.co ★ European Shares Recover Slightly on Trump Remarks

European stocks pared losses on Wednesday after remarks by US President Donald Trump at the World Economic Forum in Davos. The STOXX 50 index managed to climb 0.2% to 5,910 points during the afternoon session, and the broader STOXX 600 edged up by 0.1% to 603, signaling a potential end to a three-day decline. This shift followed President Trump's reiteration of his interest in purchasing Greenland, although he dismissed the notion of doing so by force. Despite this, tensions remain as evidenced by the European Parliament's trade committee indefinitely postponing the ratification vote on a US trade agreement, reflecting Europe’s mounting apprehensions about the US president's objectives. In individual stock movements, Barry Callebaut shares advanced by 2% after the appointment of former Unilever CEO Hein Schumacher as the new chief executive. Meanwhile, the parcel locker firm InPost saw a 0.5% increase in its stock, buoyed by a 30% surge in its fourth-quarter delivery volumes. On the macroeconomic front, UK consumer prices surpassed expectations in December, although services inflation, a key area of focus for the Bank of England, was just slightly under estimates.