European stock markets slipped on Wednesday as investors weighed the fragility of a ceasefire deal between Iran and Israel and awaited outcomes from a key NATO summit in The Hague.
The pan-European STOXX 600 fell 0.24 per cent by 10:10 am GMT. Germany’s DAX dropped 0.43 per cent, France’s CAC 40 declined 0.17 per cent, and Spain’s IBEX 35 led losses with a 1.17 per cent fall. The UK’s FTSE 100 was flat, inching up 0.01 per cent.
Investor caution followed comments from the US envoy to the Middle East, who described talks with Iran as “promising” but acknowledged ongoing concerns over the truce’s durability.
Meanwhile, NATO leaders met in The Hague to discuss increasing defence spending to 5 per cent of GDP, a target backed by former US President Donald Trump.
“Yesterday’s rebound in European stocks was overstretched,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. She added that with fading support from ECB easing and waning interest in defence stocks, the market may see some consolidation or even turn bearish.
Attribution: Amwal Al Ghad English, Reuters
Subediting: Y.Yasser