European Shares Hold Steady In Cautious Trade

RTTNews | 192 days ago

(RTTNews) - European shares steadied on Wednesday after U.S. President Donald Trump indicated that the U.S. Navy would escort oil tankers through the Strait of Hormuz to safeguard maritime trade in the Gulf and help stabilize surging global energy prices.

Additionally, the U.S. Development Finance Corporation (DFC) has confirmed its readiness to extend political risk insurance and guarantees for energy shipments passing through the Gulf.

With European thermal-coal prices surging to their highest level since October 2023 and exchange prices for gas in Europe rising by 11 percent today, Europe is in crisis mode.

Brent crude crossed $83 a barrel after Iran blocked the oil shipping channel in the Middle East.

In economic releases, the HCOB Eurozone services PMI business activity index rose from 51.6 in January to 51.9, hitting two-month high and matching expectations.

The pan European Stoxx 600 was up 0.3 percent at 606.25 after plunging 3.1 percent on Tuesday.

The German DAX gained 0.3 percent and France's CAC 40 edged up by 0.1 percent while the U.K.'s FTSE 100 dropped 0.4 percent.

Symrise shares fell nearly 2 percent. The German flavors and fragrances maker Symrise forecast a low single-digit decline in first-quarter organic sales.

Sportswear maker Adidas lost 7 percent after announcing changes in its supervisory board.

Tiremaker Continental fell 2.1 percent after it forecast a decline in revenue for 2026.

Pharmaceuticals and crop protection group Bayer tumbled 3.8 percent after widening its Q4 loss due to litigation costs over its Roundup weedkiller.

British homebuilder Vistry Group plummeted almost 18 percent after an announcement that its executive chairman Greg Fitzgerald would step down over the next year.

France's Dassault Aviation rose 1.4 percent after 2025 sales topped forecasts.

Engineering firm Weir Group lost 8 percent after full-year earnings dropped from last year.

Shares of Dutch chip-making equipment supplier ASM International surged 4 percent.

The company raised its 2026 forecast and announced a 150-million-euro buyback plan for 2026-2027 after posting better-than-expected net profit for the final quarter of 2025.

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EURUSD	1.1598	GBPUSD	1.3518
USDJPY	153.62	USDCAD	1.387