European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings.
Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US.
In contrast, Kering rose almost 3% despite reporting a revenue decline, as its finance chief signaled further US price hikes to offset tariffs. BASF gained 1.1%, even after disclosing a fall in sales. Trade developments also remained in focus. China's trade negotiator said Beijing and Washington had agreed to extend their tariff truce, although no further details were provided.
Source: Trading Economics
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