Traders work on the floor of the New York Stock Exchange during morning trading on April 13, 2026 in New York City.
Michael M. Santiago | Getty Images
LONDON – European stock markets ended lower on Wednesday as traders assessed the course of the U.S.-Iranian war and prospects for a resumption of peace talks.
pan-european Stocks 600 The index closed more than 0.4% lower, with most major exchanges and sectors in negative territory.
European luxury brands have reported a series of disappointing financial results, pushing the French stock market into negative territory.
kering Gucci, the company’s biggest brand, posted weaker-than-expected sales, sending the company’s stock plummeting to the bottom of the Stoxx 600 index, closing 9.3% lower.
The company, which also owns the Yves Saint Laurent, Bottega Veneta and Balenciaga brands, also said retail revenue in the Middle East fell 11% in the first quarter, following growth in the first two months of the year.
hermes Exchange rate fluctuations weighed on the company’s sales, and the stock price fell 8.2%.
The retailer reported that currency fluctuations had a “material negative impact” on its revenue of approximately 290 million euros ($295 million). LVMH and christian dior Stocks also fell as the news rippled through the sector.
This move comes as hopes for a diplomatic solution to the Middle East conflict rise, and the Asia-Pacific market becomes more favorable, with oil prices falling. In the United States, S&P500 hit a new intraday high, rising 0.4%. Nasdaq Added 1.1%. of Dow Jones Industrial Average However, it was last seen down almost 0.5%.
A White House official told CNBC on Tuesday that a second round of negotiations was under discussion between Washington and the Iranian government. Nothing is officially scheduled yet, the official said, speaking on condition of anonymity to discuss internal administration planning.
President Donald Trump later told the New York Post that new U.S.-Iranian talks in Islamabad “could happen in the next two days.”
The source of revenue is ASML, hermes international and antofagasta on wednesday.
— CNBC’s Kevin Breuninger contributed to this market report.
