European shares dip as investors gauge earnings, geopolitical jitters

European shares nudged lower on Wednesday, as investors gauged a flurry of lacklustre corporate earnings and uncertainty over planned negotiations between Washington and other countries.

The continent-wide STOXX 600 index SXXP was down 0.3% at 571.58 points, as of 0712 GMT. Other major regional indexes struggled for a clear direction.

Germany’s DAX DAX slipped 0.2%, France’s CAC 40 PX1 lost 0.8%, while Spain’s IBEX IBC edged 0.1% higher.

UK’s FTSE 100 CURRENCYCOM:UK100 rose 0.5%. Data showed British inflation and a key underlying measure of price growth both unexpectedly held steady in September.

A planned summit between U.S. President Donald Trump and his Russian counterpart was put on hold on Tuesday, and ambiguity lingered over a potential meeting between Trump and Chinese President Xi Jinping.

Shares of French beauty conglomerate L’Oreal OR dropped 7.1% on Wednesday after the company posted a weaker-than-expected quarterly growth, but projected improving demand in China.

The STOXX aerospace & defence index (.SXPARO) rose nearly 1%, with Hensoldt HAG and Renk R3NK up 3.1% and 4.5%, respectively.

Energy stocks (.SXEP) also climbed about 1%, while the technology sector (.SX8P) dipped 0.9%.

In other moves, shares of Adidas ADS dropped 2.1% even as the German sportswear brand raised its annual operating profit outlook.

Barclays BARC rose 2.7% after the lender announced a surprise 500-million-pound ($671 million) share buyback plan and upgraded its performance target for the year.

Hermes RMS fell 4.7% despite signalling a slight improvement in key market China.