European Shares Decline Amid Uncertainty Surrounding US-Iran Talks
(RTTNews) - European stocks edged lower on Wednesday as renewed Middle East tensions continued to push oil prices higher, clouding the outlook for inflation and interest rates.
Brent crude futures jumped nearly 3 percent toward $99 a barrel after the U.S. military said it had thwarted Iranian missile attacks targeting Bahrain, Kuwait, and other locations in the region.
The OECD has sharply cut its global growth outlook and warned that a prolonged U.S.-Iran conflict could push global growth close to recession levels.
The pan European Stoxx 600 dropped 0.4 percent to 623.15 after rising 0.7 percent on Tuesday.
The German DAX fell 0.7 percent, France's CAC 40 shed 0.3 percent and the U.K.'s FTSE 100 was down 0.2 percent.
Spanish fashion giant Inditex jumped 6 percent after it posted 8.8 percent growth in Q1 sales, driven by Zara's summer collections and strategic store optimizations.
Customized electronics manufacturer DiscoverIE Group fell nearly 2 percent in London despite posting record earnings for the year to March 2026.
Discount retailer B&M European Value Retail soared 16 percent after annual profit fell less than expected.
Electricals retailer Currys advanced 1.4 percent after appointing Fredrik Tonnesen as Group Chief Executive Officer.
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