Mucahithan Avcioglu
24 June 2026•Update: 24 June 2026
European stock markets closed mixed on Wednesday as global pressure on technology shares, sharp losses in German defense stocks and fresh macroeconomic data weighed on investor sentiment.
The benchmark Stoxx Europe 600 index rose 0.08% to close at 635.16 points, while major regional indices diverged.
France’s CAC 40 gained 0.54% to 8,385.49 points, and the UK’s FTSE 100 increased 0.31% to 10,461.63.
Italy’s FTSE MIB, however, fell 0.74% to 51,638.94 points.
Germany’s DAX 40 dropped 0.62% to 24,740.36 points, pressured by steep declines in defense stocks with heavy index weight and caution ahead of US chipmaker Micron’s earnings.
The euro/dollar parity was down 0.18% at 1.1362 as of 1640GMT.
Analysts said investors continued to monitor developments surrounding chipmakers Broadcom and Nvidia, while concerns over high valuations in artificial intelligence and semiconductor shares kept risk appetite limited.
German defense stocks came under heavy pressure after Defense Minister Boris Pistorius confirmed that Berlin had definitively canceled plans for F-126 frigates following problems with Dutch shipbuilder Damen.
The decision to shift the order from Damen to ThyssenKrupp Marine Systems, or TKMS, caused sharp moves across the defense sector. TKMS shares rose more than 15% after the announcement.
Rheinmetall shares, however, fell nearly 19%, marking their biggest daily decline in three decades, after the cancellation derailed expectations that the company could take over Damen’s order. Other defense-linked companies also declined, with transmission manufacturer Renk down 7% and Hensoldt losing about 4%.
On the macroeconomic front, Germany’s Ifo Business Climate Index rose to 85.6 in June from 85.0 in May, signaling a second consecutive monthly improvement after repeated downward revisions to growth forecasts.
Ifo President Clemens Fuest said German companies were becoming less pessimistic about the outlook as hopes increased for an easing in the global political environment.
