European stocks market opened mostly higher on Wednesday, with investor attention shifting toward a high-profile diplomatic meeting involving the United States, Greenland, and Denmark over the Arctic island’s future.
In early trading, the pan-European Stoxx 600 index climbed 0.3% to a fresh record high, supported by gains across most sectors and major regional exchanges. London’s FTSE 100 rose 0.27%, France’s CAC 40 advanced 0.47%, Italy’s FTSE MIB gained 0.55%, and Spain’s IBEX 35 jumped 0.70%. Germany’s DAX, however, edged slightly lower, slipping 0.07%.
Greenland Negotiations: Implications for International Trade
Markets are closely watching talks scheduled for Wednesday between U.S. Secretary of State Marco Rubio and officials from Greenland and Denmark. The discussions come after repeated remarks from President Donald Trump about potentially “acquiring” Greenland. While Denmark and Greenland have firmly stated that the semi-autonomous territory is not for sale, Trump has previously raised the possibility of using military force to secure control of the resource-rich island.
On the corporate front, BP warned that it expects impairment charges of between $4 billion and $5 billion in the fourth quarter of 2025. The energy major said the write-downs are linked to its gas and low-carbon energy businesses and will be excluded from its underlying replacement cost profit. BP also cautioned that its oil trading performance in the quarter is likely to be weaker than in the third quarter. Shares of the London-listed company were down around 0.8% in early trade.
European Stocks Gain as Mining Shares Rally on Record Silver Prices
Mining stocks were in focus after Fresnillo, the world’s largest silver producer, briefly touched a record high shortly after the market opened. The stock later pared some gains but was still trading about 0.6% higher. The move followed a surge in spot silver prices, which climbed above $90 an ounce for the first time.
Elsewhere, European defense sentiment remained mixed. Czechoslovak Group, a major ammunition manufacturer, announced plans to list in Amsterdam in the coming weeks at an estimated valuation of roughly 30 billion euros. The company said it expects to benefit from a long-term increase in regional defense spending driven by heightened geopolitical risks. It has already secured early commitments worth around 900 million euros from investors including Artisan Partners, BlackRock, and Al-Rayyan.
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Despite the broader defense theme, European aerospace and defense stocks slipped 0.1% after opening slightly higher. The sector faced pressure amid rising geopolitical tensions tied to Greenland, violent protests in Iran, U.S. warnings over potential executions of protesters, and ongoing fallout from Washington’s removal of Venezuelan President Nicolas Maduro last week.
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In Asia, Japanese markets hit record highs overnight on speculation that Prime Minister Sanae Takaichi may call a snap election as early as February. U.S. stock futures were largely flat after the S&P 500 retreated from record levels earlier in the week.
There were no major economic data releases or earnings reports scheduled in Europe on Wednesday, leaving geopolitical developments and corporate news as the main drivers of market sentiment.