24.06.202607:34:22UTC+00European Stocks Cautious on Wednesday

European stocks traded cautiously on Wednesday, with both the STOXX 50 and STOXX 600 hovering around the flatline after the previous session’s tech-led decline. Investors kept a close eye on potential developments in US-Iran negotiations and awaited Micron’s quarterly results later in the day for fresh guidance on the semiconductor outlook. The aerospace and defense sector led regional losses: Rheinmetall slumped more than 13% after reports that Germany plans to scrap proposals for its largest warship since World War II in favor of purchasing eight smaller frigates from TKMS. By contrast, TKMS shares jumped nearly 10%. The tech and semiconductor segments attempted a rebound, with ASML Holding up 0.3%, Infineon Technologies gaining 1.2%, and STMicroelectronics advancing 1.3%.