European equities traded with little overall direction on Wednesday as fresh attacks on shipping involving the U.S. and Yemen’s Iran-aligned Houthis renewed concerns about potential supply disruptions and reduced hopes of bringing the months-long Iran conflict to an end.
Major regional indices were mixed. France’s CAC 40 Index slipped 0.2%, while the U.K.’s FTSE 100 Index edged 0.1% higher and Germany’s DAX Index advanced 0.5% following confirmation that German inflation accelerated in July.
German inflation rises to 2.8%
Final figures from Destatis showed German consumer prices increased 2.8% year on year in July, accelerating from 2.3% in June and matching previous estimates.
The rise was partly driven by higher energy prices following the end of the government’s fuel tax measures. The July reading was the highest since April, when inflation reached 2.9%.
EU-harmonised inflation also increased as expected, reaching a three-month high of 2.8% in July compared with 2.4% in June.
Balfour Beatty and ABN AMRO shares climb
In corporate trading, Balfour Beatty (LSE:BBY) shares surged after the British construction group raised its annual operating profit forecast following a sharp increase in first-half earnings.
Dutch lender ABN AMRO (EU:ABN) also advanced strongly after delivering solid second-quarter results and upgrading its full-year income guidance.
Germany’s Indus Holding (TG:INH) rallied after reporting a substantial improvement in first-half earnings and raising its outlook for the full 2026 financial year.
Bechtle and Bilfinger move lower
Elsewhere, IT services provider Bechtle (TG:BC8) declined despite reporting higher second-quarter bottom-line earnings and increasing its guidance for the full financial year.
Industrial services group Bilfinger (TG:GBF) also fell after indicating that its full-year EBITA margin is now expected to finish at the lower end of its guidance range.
Leave a Reply