European shares are mixed Wednesday afternoon, as investors grapple with mixed earnings results and higher oil prices amid the news that US President Trump has pulled out of the Iran nuclear deal. Energy firms made gains on the mixed developments but some regional bourses lost ground.
By 1355 BST, the EUROSTOXX 600 was 0.20% higher and the EUROSTOXX 50 had gained 0.06%. Regional indices were mixed. The German DAX fell 0.09% and the French CAC was down 0.15%, while the Spanish IBEX rose 0.13%.
As earnings season slows down there were still a number of interesting results published Wednesday.
Shares in Wienerberger rose 6.67% as the brickmaker reported upbeat Q1 earnings and confirmed its full year guidance amid its ongoing business streamlining plans.
Siemens shares gained 4.01% to trade at €114.72 after the industrial manufacturer raised its full year guidance.
Energy stocks moved higher amid the rising oil price. Total shares rose 0.99% to €52.23, Eni shares gained 2.14% to €16.58 and Royal Dutch Shell shares were 2.09% in the green at £2,688.
Among the fallers were:
- TUI shares slid 1.43% to €19.69 amid a disappointing earnings update.
- Burberry shares sank 5.78% to £1,755.50 after a major shareholder sold his entire stake in the luxury goods company.
US President Trump stuck to his campaign promise and withdrew from the Iran nuclear agreement. He added that sanctions on Iran would be restored.
“At the heart of the Iran deal was a giant fiction: that a murderous regime desired only a peaceful nuclear energy program,” Trump said. “Today, we have definitive proof that this Iranian promise was a lie.”
“I am announcing today that the United States will withdraw from the Iran nuclear deal. In a few moments, I will sign a presidential memorandum to begin reinstating US nuclear sanctions on the Iranian regime. We will be instituting the highest level of economic sanction,” Trump said.
That announcement was behind the oil price increase supporting a large number of European stocks.