European Shares Subdued Amid Uncertainty Over US-Iran War

(RTTNews) - European stocks were subdued on Wednesday after U.S.-Iran peace talks stalled, and U.S. President Donald Trump announced a unilateral extension of the ceasefire amid renewed conflict in the Strait of Hormuz.

In economic news, British consumer price inflation increased in March to the highest level in three months, driven mainly by higher transport costs, data published by the Office for National Statistics showed.

The consumer price index climbed 3.3 percent year-on-year in March, faster than February's 3.0 percent stable increase. That was in line with expectations.

On a monthly basis, consumer prices moved up 0.7 percent after rising 0.4 percent in February. The expected rate was 0.6 percent.

The pan European Stoxx 600 was marginally higher at 616.34 after declining 0.9 percent on Tuesday.

The German DAX was little changed with a negative bias and France's CAC 40 slipped 0.2 percent while the U.K.'s FTSE 100 was marginally higher.

TUI shares tumbled nearly 3 percent. The travel group cut its full-year underlying operating profit forecast and suspended its revenue guidance, citing rising geopolitical risks.

Deutsche Telekom lost over 3 percent on reports the German company is considering a full combination with its U.S. arm T-Mobile US Inc.

Swedish appliance maker Electrolux fell almost 2 percent after it decided to end production in Hungary by year-end.

French drugmaker Ipsen advanced 1.4 percent after receiving EU conditional marketing authorization for Ojemda as the first targeted therapy for recurrent or refractory pediatric low-grade glioma.

Sanofi fell about 1 percent after the U.S. FDA extended its review of Sarclisa subcutaneous (SC) formulation by up to three months.

Food and drink giant Danone rallied 3.4 percent after Q1 sales beat expectations.

Dettol soap maker Reckitt Benckiser slumped 5.2 percent after group net revenue declined year-on-year for the first quarter of 2026.

Dulux paint maker Akzo Nobel surged 5 percent after delivering better-than-expected first-quarter earnings.

Swiss industrial-technology company ABB advanced 3.5 percent after lifting its 2026 sales outlook.

Bunzl gained 3 percent. The British business supplies distributor kept its 2026 outlook after reporting Q1 trading in line with expectations.

Retailer Tesco rose about 1 percent after announcing a new phase of its ongoing share buyback program.