FX.co ★ European Stocks Cut Gains

Both the STOXX 50 and the STOXX 600 closed 0.5% lower on Wednesday, reversing earlier gains, as oil prices rose again following reports that Israel bombed natural gas infrastructure in Iran, heightening concerns over the war’s economic impact. Utilities, technology, and consumer non-cyclical stocks were the weakest performers, while energy and industrials advanced. Major defensives traded sharply lower, with Roche down 2.1%, Novartis 1.5%, Novo Nordisk 2.2%, Nestlé 3.7%, and Unilever 3.2%, while ASML Holding surrendered early gains to trade roughly flat. In contrast, Diploma jumped about 19%, topping the STOXX 600 after the company raised its fiscal 2026 guidance.