European Shares Subdued Amid Escalating Iran Tensions
(RTTNews) - European stocks were subdued on Wednesday as escalating Middle East tensions overshadowed upbeat earnings results from the likes of ASML Holding and Richemont. Euro zone bond yields held near multi-year highs amid growing concerns that the United States and Iran may return to an all-out war.
The pan-European STOXX 600 was marginally lower at 641.80 after rising 0.2 percent on Tuesday.
The German DAX dipped 0.6 percent and the U.K.'s FTSE 100 slid 0.2 percent while France's CAC 40 was marginally higher.
ASML Holding surged over 4 percent. The Dutch chip equipment supplier lifted its annual sales forecast for the second time this year due to surging AI spending.
Dr. Martens shares rose 1.3 percent after the British bootmaker backed its annual outlook, heading into its annual general meeting in London.
Hunting, a precision engineering group, jumped 5 percent after reporting solid first-half trading and reaffirming its 2026 targets.
Discount retailer B&M European Value Retail slumped 4.5 percent after reporting modest sales growth in the first quarter.
Miner Antofagasta dropped 1.6 percent after its copper output fell 9.5 percent in the first half.
Swiss luxury group Richemont soared 5.7 percent after reporting better-than-expected sales for its most recent quarter, helped by booming demand for its jewelry business.
Delivery Hero dropped 1.2 percent. The German food-delivery company confirmed that it was in advanced negotiations with Uber Technologies regarding a potential takeover offer.
Norway's Aker BP rose about 2 percent after posting impressive second-quarter results.
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