European Shares Rebound
Steelmakers where among the top gainers after the EU announced plans
European stocks advanced on Wednesday, snapping a two-session losing streak, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.5%.
Steelmakers where among the top gainers after the EU announced plans to cut tariff-free quotas on imported steel and raise tariffs on excess imports from 25% to 50%.
Shares of ThyssenKrupp jumped 5.6%, ArcelorMittal gained 4.3%, and SSAB added 4.2%.
Investor sentiment was also supported by fresh corporate updates.
Banking stocks outperformed, with Lloyds up 2.6% following reports that it may face lower-than-expected compensation costs for unfair loan deals.
ABB climbed 1.7% after SoftBank agreed to acquire the firm’s robotics division.
In contrast, the auto sector lagged, as BMW fell over 4% after cutting its 2025 earnings forecast and Mercedes-Benz lost around 3%.
Technology shares also retreated, with ASML Holding down nearly 3% after reports that US lawmakers are pushing for broader restrictions on chipmaking equipment exports to China.
