FX.co ★ European Stock Indices Edge Above the Flatline

European stocks ended slightly higher on Wednesday after steep losses in the previous session, as easing energy prices provided some relief to European sovereign bond yields. The Eurozone’s STOXX 50 rose 0.2% to 6,078, while the pan-European STOXX 600 inched up 0.1% to 628. Iran said it had an unofficial draft agreement with the United States that would end their conflict and restore trade flows through the Strait of Hormuz. Oil and gas prices declined even though the US rejected the proposed concessions, helping to stem the equity sell-off seen a day earlier. Luxury and premium consumer names led gains, with LVMH, Hermès, Adidas, and L’Oréal advancing between 2.5% and 5.5%. Banks also performed well, with Santander and Intesa Sanpaolo up about 1.5%. In contrast, energy majors TotalEnergies and Eni fell more than 2% as crude prices retreated.