European equities moved mostly lower on Wednesday, giving back some recent gains after two positive sessions, as investors adopted a cautious stance ahead of the U.S. Federal Reserve’s policy decision and earnings updates from major technology groups.
Market sentiment was also dented by comments from U.S. President Donald Trump on the dollar, which were taken as a signal of weaker confidence in the U.S. economic outlook. The greenback hovered near four-year lows and was on course for its sharpest weekly drop since last April after Trump suggested he was comfortable with the currency’s recent decline.
By mid-session, France’s CAC 40 was down about 1.5%, Germany’s DAX had slipped 0.6%, and the UK’s FTSE 100 was lower by roughly 0.5%.
Despite the broader weakness, some stocks bucked the trend. Semiconductor equipment group ASML Holding (EU:ASML) surged after reporting fourth-quarter orders that came in well above analyst expectations.
Germany’s chemicals producer Wacker Chemie (TG:WCH) also climbed sharply after announcing a €300 million cost-cutting programme.
In the UK, pet care retailer Pets at Home (LSE:PETS) posted strong gains after reaffirming its full-year profit outlook.
Meanwhile, Dutch telecoms group KPN (EU:KPN) moved notably lower after forecasting year-on-year service revenue growth of just 2% to 2.5% for 2026, a cautious outlook that weighed on the shares.
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