European shares subdued ahead of Fed decision

Macro
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Summary · why it matters

European stocks were subdued on Wednesday as caution gripped markets ahead of the U.S. Federal Reserve's interest-rate decision later in the day. The pan-European STOXX 600 was marginally lower at 635.83 after rising 0.3 percent on Tuesday, while the German DAX dropped half a percent and the U.K.'s FTSE 100 slipped 0.2 percent. France's CAC 40 was marginally higher. Auto shares fell, with Germany's BMW tumbling 6.5 percent after cutting its 2026 outlook, Volkswagen declining 2.2 percent, Mercedes Benz losing 3.3 percent, and Renault dropping 1 percent. Defense technology company Thales rose about 1 percent after entering a strategic partnership with Renault Group to develop and industrialize the large-scale production of the TOUTATIS loitering munition, and Nokia added 1.3 percent after announcing a significant expansion of its advanced test and packaging operations in Allentown, Pennsylvania.

Impact on stocks 8

Consumer Discretionary± Mixed · 3 stocks
Renault SA
RNO
▲ PositiveTechnologyrelevance

Renault entered a strategic partnership with Thales to develop and industrialize the TOUTATIS loitering munition.

Volkswagen AG
VOW
▼ NegativeDemandrelevance

Volkswagen shares fell 2.2% amid auto sector weakness, but no company-specific news.

Electrification & Mobility± Mixed · 3 stocks
Renault Société Anonyme
RNL
▲ PositiveTechnologyrelevance

Renault entered a strategic partnership with Thales to develop and industrialize the TOUTATIS loitering munition.

Mercedes-Benz Group AG
MBG
▼ NegativeDemandrelevance

Mercedes-Benz shares fell 3.3% amid auto sector weakness, but no company-specific news.

Volkswagen AG VZO O.N.
VOW3
▼ NegativeDemandrelevance

Volkswagen VZO shares fell 2.2% amid auto sector weakness, but no company-specific news.

Artificial Intelligence▲ · 1 stocks
Nokia Corporation
NOA3
▲ PositiveCapitalrelevance

Nokia announced expansion of test and packaging operations in Pennsylvania, shares up 1.3%.

Cybersecurity & Digital Trust▲ · 1 stocks
Thales S.A.
HO
▲ PositiveTechnologyrelevance

Thales entered a strategic partnership with Renault to develop and industrialize the TOUTATIS loitering munition.

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