European Shares Mixed In Cautious Trade; Defense Stocks Slump
(RTTNews) - European stocks were mixed on Wednesday due to skepticism over spending in AI infrastructure and mixed signals from talks between Washinton and Tehran on ending their conflict.
Amid worries about the AI rally's sustainability, investors await the latest earnings results from Micron Technology for direction.
The pan-European STOXX 600 was marginally higher at 634.65 after falling 0.7 percent on Tuesday.
The German DAX fell 0.8 percent, while France's CAC 40 edged up by 0.2 percent and the U.K.'s FTSE 100 was marginally higher.
Defense stocks traded lower after reports emerged that Germany would abandon plans to build six warships. Rheinmetall plunged 13.4 percent, Renk slumped 5.7 percent, Leonardo lost 3.8 percent and Saab fell 2.7 percent.
Berkeley Group Holdings shares jumped nearly 5 percent after the British housebuilder posted annual results in line with the guidance reiterated on 1 April.
Landlord SEGRO soared more than 15 percent after rejecting a £12.6bn takeover bid from larger U.S. rival Prologis.
Primary Health Properties rallied 3.2 percent. The healthcare property investor said it is in advanced discussions over a potential contribution of its private hospital portfolio to a new joint venture.
Variety store and garden center operator B&M European Value Retail added 1.5 percent after appointing Atheeq Akbar as its next chief financial officer.
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