European stocks see muted open<\/p>\n
We’re 30 minutes into Wednesday’s trading session, and regional stocks are in mixed territory.<\/p>\n
The pan-European Stoxx 600 index was last seen trading flat, with no cohesive movement among individual sectors.<\/p>\n
Looking at major bourses, the French CAC 40<\/a> is currently Wednesday’s front-runner with a gain of around 0.3%. London’s FTSE 100<\/a> was last seen 0.1% higher, while the German DAX<\/a> index was little changed.<\/p>\n \u2014 Chloe Taylor<\/p>\n Elon Musk says he regrets some social media posts he made about Trump<\/p>\n Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC. <\/p>\n Kevin Dietsch | Getty Images<\/p>\n Tech billionaire Elon Musk on Wednesday said he regretted some of the social media posts he made last week during an explosive public dispute with his formerly close ally, U.S. President Donald Trump.<\/p>\n Read more on this breaking news story here.<\/a><\/p>\n Zara owner Inditex flags slowing summer sales as quarterly revenues miss expectations<\/p>\n A shopper carrying two large bags from clothing retailer Zara on Oxford Street in London, U.K., on Feb. 5, 2024.<\/p>\n Mike Kemp | In Pictures | Getty Images<\/p>\n Zara owner\u00a0Inditex<\/a>\u00a0on Wednesday\u00a0posted weaker-than-expected quarterly sales<\/a> while flagging a slower start to the summer season than last year amid broader economic uncertainty.<\/p>\n The Spanish retailer\u00a0reported revenues of 8.27 billion euros ($9.44 billion) in the\u00a0fiscal first quarter\u00a0covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.<\/p>\n Net income came in at 1.3 billion euros for the quarter, compared to the 1.32 billion euros analysts estimated.<\/p>\n \u2014 Karen Gilchrist<\/p>\n U.S.-China trade agreement: What you need to know<\/p>\n U.S. Commerce Secretary Howard Lutnick speaks to members of the media while arriving for trade talks at Lancaster House in London, UK, on Tuesday, June 10, 2025.<\/p>\n Bloomberg | Bloomberg | Getty Images<\/p>\n The U.S. and China have reached an agreement on trade, representatives from both sides said after a second day of high-level talks in London, with the deal now awaiting a nod from the leaders of the two countries.<\/p>\n “We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters.<\/p>\n Chinese restrictions on rare-earth exports to the U.S. are a “fundamental part” of the latest agreement and the U.S. expects the issue “will be resolved in this framework implementation,” Lutnick said.<\/p>\n He indicated U.S. restrictions on sales of advanced tech to China in recent weeks would be rolled back as Beijing approves rare-earth exports.<\/p>\n Read the full story here.<\/a><\/p>\n \u2014 Evelyn Cheng<\/p>\n Here are the opening calls<\/p>\n Skyline view of the City of London financial district from the viewpoint in Greenwich Park in London, United Kingdom. <\/p>\n Mike Kemp | In Pictures | Getty Images<\/p>\n Good morning from London, welcome to CNBC’s live blog covering European financial market action as well as the latest regional and global business news, data and earnings.<\/p>\n Futures data from IG suggests London’s\u00a0FTSE<\/a>\u00a0will open 14 points lower at 8,852, Germany’s\u00a0DAX<\/a>\u00a0down 105 points at 23,925, France’s\u00a0CAC 40<\/a>\u00a0down 9 points at 7,788 and Italy’s\u00a0FTSE MIB<\/a> 95 points lower at 40,082.<\/p>\n Global markets are having a mixed reaction to news that U.S. and Chinese officials reached\u00a0a tentative consensus on trade<\/a>\u00a0after a second day of talks in London. The negotiators will now seek approval on the framework from the U.S. and Chinese presidents.<\/p>\n Asia-Pacific markets<\/a> climbed overnight on the apparent breakthrough, but U.S. stock futures<\/a> inched lower, with investors also looking ahead to May inflation data.<\/p>\n \u2014 Holly Ellyatt<\/p>\n What to keep an eye on today<\/p>\n An Aldi supermarket in Alhambra, California, in 2024.<\/p>\n Eric Thayer | Bloomberg | Getty Images<\/p>\n Global markets will be keeping a close eye on the latest U.S. inflation report for May.<\/p>\n Economists polled by Dow Jones expect a 0.2% month-over-month increase, while the headline consumer price index is anticipated to have grown 2.4% on an annual basis. Hotter-than-expected data could spook investors who are already on edge over inflationary pressures and the trajectory of Federal Reserve rate cuts.<\/p>\n Traders will be keeping an eye on the Nvidia keynote address at the VivaTech conference in Paris on Wednesday, as well as Goldman Sachs’ annual European Financials Conference.<\/p>\n Meanwhile, U.K. investors will be looking out for the government’s “Spending Review<\/a>,” in which it sets out\u00a0day-to-day spending and investment plans for all government departments.\u00a0<\/p>\n