European Stocks Cautious
Both the STOXX 50 and the STOXX 600 swung around the flatline on Wednesday, following a choppy session the day before, as investor sentiment remained fragile after a US-China trade agreement failed to deliver a meaningful boost in confidence.
After two days of talks, officials from both countries agreed to a framework for implementing the so-called Geneva consensus, which last month led to tariff reductions.
However, the announcement lacked concrete details, and the framework still awaits approval from Presidents Donald Trump and Xi Jinping. Meanwhile, EU officials signaled that trade negotiations with the US could extend beyond the July 9 deadline.
The retail sector was by far the worst performer, with shares of Inditex losing over 4% after the company reported weaker-than-expected quarterly sales and noted a slower start to the summer season compared to last year, citing ongoing economic headwinds. In contrast, autos and basic resources sectors led the gains.
Source: Trading Economics
