European equities edged lower on Wednesday, extending recent losses as renewed trade tensions tied to Greenland continued to weigh on investor sentiment, overshadowing a series of positive corporate updates.
The pan-European STOXX 600 slipped 0.1% by 08:10 GMT, with financial services and banking stocks among the weakest performers, both sectors down around 0.6%.
Market sentiment has deteriorated sharply this week after U.S. President Donald Trump threatened to impose escalating tariffs on eight European countries starting February 1, unless the United States is permitted to purchase Greenland. Investors remain cautious, as Trump has so far offered little sign of easing tensions ahead of his scheduled address at the World Economic Forum later in the day.
Despite the broader market weakness, several individual stocks posted strong gains. Rio Tinto shares jumped 3.1% after the mining giant reported quarterly iron ore and copper production that exceeded expectations.
Shares of Barry Callebaut surged 5.9% following the announcement that former Unilever chief executive Hein Schumacher will take over as CEO.
In the UK, inflation data showed consumer prices rose more than expected in December. However, services inflation — a key metric closely monitored by the Bank of England — came in broadly in line with forecasts. London’s benchmark FTSE 100 index was little changed on the day.
