European equities moved lower on Tuesday, extending the previous session’s losses after the United States sent military aircraft to Pituffik Space Base in Greenland, prompting Denmark to dispatch its army chief and additional troops to the Arctic territory in a sharp escalation of tensions.
Adding to market unease, U.S. President Donald Trump warned he could impose 200% tariffs on French wine and champagne after Paris declined an invitation to join his proposed Board of Peace initiative aimed at resolving global conflicts, saying it “does not intend to answer favorably.”
On the economic front, Germany’s statistics office Destatis said producer prices fell 2.5% year on year in December, accelerating from a 2.3% decline in November, largely due to a steep drop in energy prices.
In the U.K., the Office for National Statistics reported that the unemployment rate was unchanged at 5.1% in the three months to November, in line with expectations and the previous period.
By mid-session, Germany’s DAX was down 1.2%, while France’s CAC 40 and the U.K.’s FTSE 100 were each lower by around 0.9%.
In corporate news, shares of AstraZeneca (LSE:AZN) fell after the drugmaker said it plans to delist its American Depositary Shares and debt securities from Nasdaq.
Big Yellow Group (LSE:BYG) also traded lower after the self-storage operator reported that closing occupied space declined by 82,000 square feet across its 111 stores in the third quarter, a period that is typically seasonally weaker.
Ibstock (LSE:IBST) came under pressure as the building products group said market uncertainty had continued into the start of the new year.
In contrast, shares of food flavourings specialist Treatt (LSE:TET) rose in London after the company formalised its relationship with major shareholder Dohler Finance.
French carmaker Renault (EU:RNO) also moved higher after reporting a 3.2% increase in sales volumes in 2025.
Meanwhile, Informa (LSE:INF) advanced after lifting its growth targets for 2026.
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