FX.co ★ European Stocks Close Lower For 2nd Straight Day

European equities ended Wednesday on a downslide, as apprehensions loomed over Donald Trump's protectionist strategies potentially triggering inflation and stifling global economic expansion. Market participants also evaluated regional economic statistics and corporate earnings.

The pan-European Stoxx 600 index closed with a minor decline of 0.13%. Germany's DAX and France's CAC 40 fell by 0.16% and 0.14%, respectively. The U.K.'s FTSE 100 experienced a slight uptick of 0.06%, while Switzerland's SMI dipped by 0.07%.

Elsewhere in Europe, markets in Austria, Greece, Ireland, the Netherlands, Norway, Poland, Portugal, Spain, and Sweden also ended on a weaker note. Conversely, gains were observed in Belgium, Denmark, Finland, Iceland, and Russia.

In the UK sector, Intermediate Capital Group fell sharply by 7.2%, with DCC down 3.79% and Convatec Group dropping 3.03%. Shares in Segro, BAE Systems, Experian, Land Securities Group, Spirax Group, RightMove, Barratt Redrow, Whitbread, Pearson, Intertek Group, Persimmon, British Land, National Grid, and Londonmetric Property decreased between 1.3% and 3%.

Smiths Group saw an impressive surge of 10.5% following the engineering firm's resumption and augmentation of its share buyback scheme. Flutter Entertainment, a major player in online sports betting and iGaming, soared nearly 7% post-strong third-quarter performance reports.

Babcock International ascended 3.3%, backed by a significant rise in half-year profits and reaffirmed expectations for FY25. Vodafone Group advanced 3%, with Standard Chartered climbing 2.3%.

Other notable UK market gainers included Fresnillo, Diploma, Scottish Mortgage, AstraZeneca, Admiral Group, Ashtead Group, Lloyds Banking Group, Sage Group, Melrose Industries, and HSBC Holdings, with gains ranging from 1% to 1.7%.

In Germany, Infineon slipped over 4%, Bayer closed nearly 4% down, and Volkswagen fell by almost 3%. Companies like Symrise, Qiagen, Vonovia, Sartorius, BMW, Daimler Truck Holding, Deutsche Bank, Porsche, Deutsche Post, Mercedes-Benz, Siemens Healthineers, and Fresenius shed between 1% and 2.2%.

Siemens Energy, however, soared approximately 18% after the company announced an elevation in its mid-term targets, alongside setting a new record for its order book.

RWE increased by nearly 7% following the disclosure of a €1.5 billion share buyback scheme. Brenntag also saw a rise, gaining about 2.3%.

The French market was not spared, with STMicroelectronics falling more than 4%. Other declines were noted in Capgemini, Edenred, Thales, Société Générale, Michelin, Dassault Systèmes, Eurofins Scientific, Vinci, Bouygues, Renault, and Airbus Group, which all slid by 1% to 3.5%.

Positive returns were limited to Publicis Groupe, which rose 1.5%, and companies like Hermès International, Saint Gobain, Kering, Schneider Electric, Air Liquide, and Safran, which gained between 0.6% and 1.1%.

Economic data from France's statistical office, INSEE, revealed a slight increase in the unemployment rate to 7.4% in the third quarter, up from 7.3% in the second quarter, aligning with prior expectations.

In the U.S., the Labor Department's data indicated a 0.2% rise in the consumer price index for October. The report noted that the annual consumer price growth accelerated to 2.6% from 2.4% in September. The core consumer price growth rate remained steady at 3.3%, consistent with forecasts.