LIVE MARKETS-Defensives up, banks steady, UK retailers slide

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DEFENSIVES UP, BANKS STEADY, UK RETAILERS SLIDE

There were no big standouts at the open in Europe on Wednesday, with the STOXX 600 dipping just slightly as a mix of worries, from geopolitical tensions in the Middle East to the U.S. fiscal position, keeping risk appetite in check.

Defensives were supported, with utilities .SX6P and telecoms .SXKP inching higher, while a gauge of aerospace and defence stocks .SXPARO climbed to a fresh record high. Banks .SX7P steadied near recent highs after a Morgan Stanley upgrade. Tech inched up.

Most sectors, though, were in the red, led by an over-1% fall in autos .SXAP.

UK retailers were a weak spot following a batch of results.

JD Sports JD.L fell nearly 13% at one point before paring losses after warning tariffs could impact demand in its key U.S. market. Citi was disappointed by the lack of a 2026 guidance.

Marks & Spencer MKS.L slid 2% after spelling out the cost a cyberattack that forced its online clothing operation offline since the end of April and left some food shelves bare.

The region wide STOXX 600 index was last down 0.16%, while the DAX .GDAXI dipped briefly below 24,000 points.

(Danilo Masoni)

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