European markets closed lower on Wednesday as investors assessed several earnings releases and a hotter-than-expected U.K. inflation print. The regional STOXX 600 ended the session 0.9% lower, retreating further away from Tuesday’s all-time closing high and marking the index’s biggest daily drop in 2025. Dutch healthcare technology group Philips dropped 11% after missing sales growth expectations for the fourth quarter amid a double-digit decline in China. Earnings released on Wednesday included BAE Systems, shares of which slipped despite the British defence giant reporting a record order book and higher annual profit. Mining firm Glencore was meanwhile ~7% lower after posting a 16% year-on-year decline in adjusted earnings in its preliminary annual results.
- We remain bullish on European indices in 2025, but a pullback/period of consolidation feels close at hand.
MM are cautiously bullish towards European stocks
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