European stocks closed mixed on Wednesday, pressured by a negative session in the US overnight as markets continued to assess the outlook on global rates and the possibility of an end to the war in Ukraine.
The Eurozone’s STOXX 50 dropped 0.2% to 5,472 while the pan-European STOXX 600 gained 0.3% to 559.
Industrial giants lost the most ground in the session, with Siemens, Airbus, Schneider, and Rolls Royce sinking between 3.5% and 2% after the stronger momentum this week.
On the other hand, consumer defensive companies were sharply higher across the bloc with Danone, L’Oreal, and AB InBev rising over 1%.
On the monetary policy front, investors awaited minutes from the FOMC’s last meeting for hints on how policymakers will react to the downward revisions to payroll numbers and higher PPI since they last met.