FX.co ★ European Stocks Inch Lower

European stocks ended slightly lower on Wednesday, weighed down by sharp losses in banking and AI-related shares. The Euro STOXX 50 slipped 0.2% to 6,454, while the STOXX Europe 600 finished broadly unchanged at 652.

Banks led the decline despite a retreat in long-term bond yields after the US Treasury announced it would double its buyback program. BNP Paribas and ING each fell 2.4%, while Santander, UniCredit, and Intesa Sanpaolo lost around 1.3%.

Semiconductor and AI-exposed stocks also came under pressure. ASML dropped 2.2% and Infineon slid 4%, following weakness in the US AI infrastructure sector after OpenAI’s latest financial results failed to match the rapid growth reported by Anthropic.

In contrast, consumer cyclical stocks advanced, with Inditex and LVMH each gaining roughly 2%. Rising gold prices, supported by the US Treasury’s intervention, boosted London-listed miners: Rio Tinto rose 4%, while Glencore added 5%.