European stock markets traded lower on Wednesday as escalating tensions in the Middle East continued to lift oil prices, raising fresh questions about the outlook for inflation and monetary policy.
Brent crude futures surged close to 3%, approaching the $99-per-barrel mark, after the U.S. military reported intercepting Iranian missile attacks aimed at Bahrain, Kuwait and other regional targets.
Adding to investor caution, the OECD lowered its global economic growth forecasts and warned that a prolonged confrontation between the United States and Iran could push the world economy toward recessionary conditions.
Major European Indices Move Lower
Market sentiment remained subdued across the region, with Germany’s DAX Index declining 0.9%.
The U.K.’s FTSE 100 Index and France’s CAC 40 Index also moved into negative territory, each slipping around 0.3%.
Inditex Rallies on Strong First-Quarter Performance
Among the day’s standout performers, Spanish fashion retailer Inditex posted strong gains after reporting robust first-quarter trading.
The company’s shares climbed 6% after announcing an 8.8% increase in quarterly sales, supported by strong demand for Zara’s summer collections and ongoing efforts to optimize its store network.
DiscoverIE Slips Despite Record Annual Results
In London, customized electronics specialist DiscoverIE Group (LSE:DSCV) fell nearly 2%, even after reporting record earnings for the financial year ended March 2026.
The decline suggested investors may have been looking beyond the headline results amid broader market weakness.
B&M Surges as Profit Decline Proves Less Severe Than Feared
Discount retailer B&M European Value Retail (LSE:BME) emerged as one of the strongest performers of the session.
Its shares jumped 16% after annual earnings came in ahead of market expectations, with profits declining by less than analysts had anticipated.
Currys Advances Following CEO Appointment
Electricals retailer Currys (LSE:CURY) gained 1.4% after naming Fredrik Tønnesen as its new Group Chief Executive Officer.
Investors welcomed the leadership appointment as the company continues to pursue its operational and strategic priorities across key markets.
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