European equities traded with little direction on Wednesday after joint military strikes by the United States and Saudi Arabia in Iraq heightened fears that conflict in the Middle East could escalate further.
Investors also remained cautious ahead of quarterly earnings from major U.S. technology companies and the Federal Reserve’s interest rate decision, both scheduled for later in the day.
The French CAC 40 fell 0.8%, while Germany’s DAX and the UK’s FTSE 100 each edged 0.1% higher.
Corporate Earnings Drive Individual Stocks
Logitech International shares dropped 7.2% after the Swiss computer peripherals manufacturer warned that a temporary shutdown at one of its suppliers’ factories could reduce third-quarter sales by as much as $200 million.
Wealth manager UBS (NYSE:UBS) gained 3.3% after reporting better-than-expected second-quarter earnings and announcing plans to repurchase $3 billion of its own shares over the next year.
Mining group Rio Tinto (LSE:RIO) rose 1.3% after posting a 47% increase in first-half profit.
Commodity trader Glencore (LSE:GLEN) advanced 2.8% as first-half earnings from its trading division doubled compared with the previous year.
Strong Results Lift Consumer and Banking Stocks
Greggs (LSE:GRG) jumped 12% after the UK bakery chain reported a stronger-than-expected 19.7% increase in first-half 2026 pre-tax profit.
Reckitt Benckiser (LSE:RKT), the maker of Dettol, climbed 5.3% after delivering what it described as a strong second quarter while maintaining its full-year guidance.
Standard Chartered (LSE:STAN) added 3.7% after announcing higher quarterly earnings alongside a $1 billion share buyback programme.
Mixed Performance Across Continental Europe
French spirits producer Remy Cointreau (EU:RCO) declined 3.6%, despite reporting first-quarter sales that exceeded expectations and reaffirming its annual targets.
Danone (EU:BN) fell 4.5% even after publishing solid first-half financial results.
Belgian chemicals company Solvay (EU:SOLB) gained 3.4% after second-quarter core earnings came in ahead of market forecasts.
Italian energy major ENI (BIT:ENI) advanced 4.2% after increasing the size of its share buyback programme following strong second-quarter results.
Industrials Lead the Gainers
Electrolux (LSE:0GQ1) surged 24% after the Swedish appliance manufacturer reported quarterly profit well above expectations.
Deutsche Bank (TG:DBK) rallied 5% after delivering a record second-quarter profit.
BASF (TG:BAS) climbed 4% after announcing plans to begin a €1 billion share buyback programme in August.
Utility company RWE (TG:RWE) rose 2% after upgrading its earnings outlook for both 2026 and 2027.
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