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European equity markets opened modestly higher on Wednesday, as investors remained focused on escalating geopolitical developments, particularly talks set to determine the future of Greenland.
At 03:05 ET (08:05 GMT), Germany’s DAX rose 0.1%, France’s CAC 40 gained 0.4%, and the U.K.’s FTSE 100 advanced 0.2%.
Greenland Meeting in Spotlight
Geopolitical concerns continue to shape market sentiment, with attention centered on a meeting between U.S. Secretary of State Marco Rubio and officials from Greenland and Denmark. The talks follow repeated remarks by U.S. President Donald Trump expressing his desire for Washington to “acquire” the semi-autonomous Danish territory.
Trump has argued that the United States must control Greenland to prevent Russia or China from establishing a foothold in the strategically located, resource-rich Arctic region. Greenland and Denmark have firmly stated that the territory is not for sale, but Trump has not ruled out using force.
Elsewhere, tensions in the Middle East intensified further. The U.S.-based HRANA rights group said the death toll from protests in Iran has now exceeded 2,500, as authorities continue a violent crackdown. Trump urged Iranians on Tuesday to persist with demonstrations, promising that “help is on the way.”
U.S. Producer Inflation Due
With little in the way of major European economic releases on Wednesday, investor focus shifted once again to the U.S. data calendar.
Tuesday’s consumer inflation figures showed price growth remained relatively subdued, keeping expectations of rate cuts in 2026 alive. However, upcoming U.S. producer inflation and retail sales data could offer additional clues on the Federal Reserve’s future policy path.
BP Flags Hefty Impairment
In corporate news, BP came into focus after the energy major warned of $4 billion to $5 billion in fourth-quarter impairments, largely tied to its energy transition businesses, while also flagging weak oil trading conditions.
The company is in the midst of refocusing on its core oil and gas operations, stepping back from earlier ambitions to transform into a green energy leader.
Elsewhere, Pearson reported an acceleration in sales growth to 8% in the final quarter, with the British education group forecasting around 6% growth in operating profit for 2025.
On Wall Street, more bank earnings are due later in the session, including results from Citigroup, Bank of America, and Wells Fargo, following JPMorgan Chase’s stronger-than-expected quarterly profit on Tuesday.
Crude Retreats as U.S. Inventories Rise
Oil prices eased on Wednesday, giving back part of their recent gains as U.S. crude inventories increased and Venezuela resumed exports, though developments in Iran continued to underpin risk premiums.
Brent futures fell 0.8% to $64.96 a barrel, while U.S. West Texas Intermediate crude dropped 0.8% to $60.69.
Both benchmarks had surged more than 2.5% on Tuesday, pushing Brent to an 11-week high and WTI to a 10-week peak, extending a four-session rally.
The American Petroleum Institute reported that U.S. crude stocks rose by 5.23 million barrels in the week ended January 9. Official inventory data from the Energy Information Administration is due later Wednesday.
Adding to supply dynamics, Venezuela has resumed crude exports under a deal with Washington following the U.S. capture of President Nicolás Maduro. However, mounting protests in Iran have heightened fears of potential disruptions from the world’s fourth-largest OPEC producer.
