European shares slip as Brent breaches $100

Equities across Europe came under pressure on Wednesday as Brent crude rose beyond $100 per barrel, while traders awaited American inflation figures. Business Recorder reported that the pan-European STOXX 600 lost 0.7% to 645.34 points by 0835 GMT. Germany's DAX gave up 0.7%, London's FTSE shed 0.3% and France's CAC 40 fell 0.9%, whereas Helsinki's blue chips rose 1.6% to a near three-month high.

Finnish energy company Fortum was the strongest gainer on the STOXX 600, surging 9.6% after agreeing a long-term electricity supply deal with Google. The technology firm said it plans to invest at least €13 billion ($15.1 billion) in AI infrastructure in Finland across a two-year period. Meanwhile, Houthi forces based in Yemen and supported by Iran struck several Saudi cities, deepening the Middle East conflict and adding to concern over oil supplies.

Elsewhere, Auto1 Group shares dropped 3% after CFO Christian Wallentin stepped down from the German online used car trading platform. Zara owner Inditex declined 2.9% following a second-quarter profit that came in below expectations. According to LSEG-compiled data, most traders expect the European Central Bank to lift interest rates when it meets on Thursday.