European Shares Subdued As US-Iran Tensions Escalate

(RTTNews) - European stocks were subdued on Wednesday as joint strikes in Iraq by the United States and Saudi Arabia raised concerns about a prolonged war in the Middle East. Caution ahead of big tech earnings and the Federal Reserve's interest-rate decision later in the day also kept investors on edge.

The pan European Stoxx 600 slipped 0.2 percent to 645.48 after rising 0.4 percent on Tuesday.

The German DAX dipped 0.2 percent and France's CAC 40 shed 0.4 percent while the U.K.'s FTSE 100 was marginally higher, led by gains in energy stocks such as BP Plc and Shell as Brent crude prices rebounded over 3 percent to trade above $87 a barrel after a three-day slump.

In corporate news, shares of Logitech International slumped 7.2 percent. The Swiss computer peripherals maker has warned that a temporary factory shutdown at a supplier's factory could reduce its third-quarter sales by up to $200 million.

Wealth manager UBS gained 3.3 percent after posting solid second-quarter earnings and unveiling plans to buy back $3 billion in its own stock over the coming year.

Rio Tinto rose 1.3 percent after the miner reported a 47 percent increase in first-half profit.

Commodity trader Glencore advanced 2.8 percent after earnings from trading commodities doubled in the first half of the year.

Greggs, Britain's biggest fast-food chain, soared 12 percent after reporting a better-than-expected 19.7 percent rise in pre-tax profit for the first half of 2026.

Dettol maker Reckitt Benckiser surged 5.3 percent after delivering a "strong" second quarter and maintaining its annual forecast.

Lender Standard Chartered surged 3.7 percent after announcing higher quarterly profit and a $1bn share buyback.

French spirits group Remy Cointreau tumbled 3.6 percent despite reporting stronger-than-expected first-quarter sales and confirming full-year targets.

Food maker Danone lost 4.5 percent despite posting solid first-half results.

Belgian chemicals group Solvay rallied 3.4 percent after Q2 core profit topped expectations.

Italian energy group ENI advanced 4.2 percent. The company lifted the size of its share buyback program after reporting strong second-quarter 2026 results.

Electrolux shares skyrocketed 24 percent. The Swedish household appliance maker reported a bigger-than-expected profit for the second quarter.

German lender Deutsche Bank rallied 5 percent after reporting a record second-quarter profit.

Chemical and biotech giant BASF climbed 4 percent after an announcement that it would launch a €1 billion share buyback program in August.

Power producer RWE added 2 percent after raising its 2026 and 2027 earnings outlook.