On Wednesday, both the STOXX 50 and the STOXX 600 indices exhibited volatility around the baseline, following a similarly turbulent session earlier in the week. Investor sentiment remained delicate after the US-China trade agreement failed to significantly enhance confidence. During two days of discussions, officials from both nations reached an agreement on a framework to implement the so-called Geneva consensus, which previously led to reductions in tariffs. However, the announcement was short on specific details, and the framework still awaits approval from Presidents Donald Trump and Xi Jinping.
EU officials, on the other hand, indicated that trade talks with the US might stretch beyond the July 9 deadline. Among the sectors, retail suffered the most, with Inditex shares falling over 4% following reports of weaker-than-expected quarterly sales. The company also noted a slower commencement to the summer season compared to the previous year, citing persistent economic challenges. In contrast, the automotive and basic resources sectors emerged as leaders in gains.
