European Stocks Trade Lower
European stocks declined on Wednesday, with the Stoxx 50 down 0.4% and the Stoxx 600 off 0.3%, led lower by defense names. The Stoxx Europe Aerospace & Defense index fell another 0.9% after Tuesday’s 2.6% drop, as optimism over a Ukraine ceasefire weighed on the sector. Germany’s Rheinmetall and Hensoldt slid nearly 2% each, while the UK’s Rolls-Royce and Qinetiq also lost around 2%.
The weakness followed US President Trump’s calls for Putin and Zelenskiy to show “flexibility” and hold a bilateral summit, boosting speculation of a breakthrough in peace talks. Elsewhere, UK inflation surprised to the upside at 3.8% in July, while broader global markets paused after a record-breaking run. A sharp selloff in heavyweight tech shares raised concern that the rally since April has gone too far. Investors are now looking to the Jackson Hole Symposium, where Fed Chair Jerome Powell is scheduled to speak on Friday.
Source: Newsmaker.id
