European stocks ended the session little changed on Wednesday, following a streak of record closes, as investors took a breather to digest the latest US-Venezuela developments and awaited fresh economic data.
The pan-European Stoxx 600 index dipped 0.05 per cent from a record closing high of 605.28 reached on Tuesday.
Markets are keeping an eye on geopolitical developments, including developments in Venezuela and the use of the country’s oil resources, following the capture of Venezuelan president Nicolás Maduro over the weekend.
US president Donald Trump said his country would refine and sell up to 50 million barrels of crude stuck in the Latin American nation.
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Dublin
The Iseq All-Share index ended the session down 0.8 per cent at 12,973.30.
Kingspan, the most heavily traded stock on Wednesday in Dublin, fell 1.8 per cent after the insulation group abandoned plans to float its data centre infrastructure business.
“Our view is that given Kingspan was examining a potential IPO from a position of strength, the decision to retain full ownership has been taken as it is considered the best option for Kingspan and its shareholders,” said Davy analyst Flor O’Donoghue.
Banking stocks – which had been the stars of the Irish market in 2025 – were also out of sorts, with AIB sliding 2.7 per cent to €9.13 and Bank of Ireland falling 1.3 per cent to €16.48. However, PTSB closed unchanged at €2.80.
London
The FTSE 100 fell by 0.7 per cent. Energy stocks fell 2.5 per cent alongside a slump in oil prices after Mr Trump reached a deal on sanctioned Venezuelan crude.
Energy stocks BP and Shell fell 2.9 per cent and 2.2 per cent respectively.
The FTSE 350 index of precious metal miners led losses, down 2.4 per cent, after gold slipped more than 1 per cent.
Topps Tiles soared 8.3 per cent after the tile retailer reported a 3.7 per cent rise in first-quarter revenue, helped by resilient demand from builders and contractors.
Europe
Euro-zone inflation cooled to 2 per cent last month, capping a surprisingly tame year for prices across the bloc.
The softer inflation print lifted rate-sensitive corners of the market. Real-estate and construction stocks were among the biggest boosts to the benchmark index.
A lower interest-rate environment helps reduce borrowing costs and makes financing easier for purchasing assets.
Banks were the biggest drag, losing 1.7 per cent.
Chip equipment maker ASML fell nearly 1 per cent, snapping a six-day winning streak, its longest since November.
Nestlé dipped 2.1 per cent after brokerage firms Jefferies and Bernstein lowered their price targets on the stock. The company on Tuesday said it was recalling some batches of its infant nutrition products due to possible contamination with a toxin that can cause nausea and vomiting.
New York
Wall Street’s main indexes were mixed in early afternoon trading, with the S&P 500 and the Dow ahead and the Nasdaq down slightly, while investors assessed numerous economic data sets.
US job openings fell more than expected in November after rising marginally in October, while a separate report showed that private payrolls increased less than expected in December.
Kim Forrest, chief investment officer at Bokeh Capital Partners, said investors could stay cautious over the next couple of days, avoiding any outsized bets until the key nonfarm payrolls report is released on Friday.
Healthcare extended its gains on Wednesday, boosted by heavyweight drugmaker Eli Lilly. The Wall Street Journal reported on Tuesday that Eli Lilly was in advanced talks to buy Ventyx Biosciences for more than $1 billion (€860 million).
Memory chipmakers that had surged in the previous session on the prospect of chip shortages leading to price increases eased. SanDisk and Western Digital after climbing 27.5 per cent and 10 per cent, respectively, on Tuesday.
Among other stocks, Strategy after MSCI dropped a plan to exclude the bitcoin hoarder and other crypto treasury firms from its indexes.
First Solar after Jefferies downgraded the solar panel maker’s rating to hold, citing recent project cancellations and margin pressures. – Additional reporting: Reuters
