European equities mostly declined on Wednesday as oil prices recovered following a sharp drop of more than 11% in the previous trading session.
Benchmark Brent crude futures were up about 2.6% during European hours, while U.S. West Texas Intermediate (WTI) contracts climbed over 4% as the conflict involving Iran continued to intensify, with the United States and Israel carrying out air strikes against Iranian targets across the Middle East.
On a relatively quiet economic calendar, data showed that inflation in Germany cooled in February in line with earlier estimates, largely due to a slower rise in food prices.
Final figures from Destatis indicated that the consumer price index increased 1.9% year-on-year in February, matching the preliminary reading.
The EU-harmonised inflation rate in Germany also edged down slightly, easing to 2.0% in February from 2.1% in January.
Across European markets, Germany’s DAX index fell around 1.3%, while the UK’s FTSE 100 and France’s CAC 40 each declined roughly 0.7%.
Shares of German consumer goods and adhesives producer Henkel (TG:HEN3) dropped sharply after the company released mixed results for the fourth quarter.
Defense manufacturer Rheinmetall (TG:RHM) also declined significantly after issuing a 2026 sales outlook that fell short of market expectations.
Promotional products distributor 4imprint (LSE:FOUR) also tumbled after announcing weaker-than-expected results for 2025.
Insurance group Legal & General Group (LSE:LGEN) also slid despite reporting 2025 results broadly in line with forecasts and unveiling its largest-ever share buyback program, worth £1.2 billion.
On the upside, German state-owned energy company Uniper (TG:UN0) advanced after posting strong financial results for the fourth quarter of 2025.
Meanwhile, shares in British construction firm Balfour Beatty (LSE:BBY) surged after the company announced a £200 million share buyback and increased its full-year dividend following higher profits and a record order backlog.
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