European equities ended mixed on Wednesday, with the Euro Stoxx 50 falling 0.37% to 6,444.46 as late-session pressure outweighed earlier gains. The decline followed a brief rebound tied to the U.S. Treasury's announcement of increased buybacks for long-dated bonds, which temporarily eased concerns about the prior day's sharp rise in 30-year yields.
The earlier jump in long-term U.S. yields had unsettled equity investors, driven by mounting inflation concerns, geopolitical risks from the Iran conflict, elevated government borrowing, and heavy capital demands from major AI firms. The Treasury's move to expand buybacks briefly tempered those worries, pushing 30-year U.S. yields lower, but the relief proved short-lived.
Outside the euro area, gains were more pronounced. Switzerland's SMI rose 0.46% to 14,386.58, while Britain's FTSE 100 added 0.14% to close at 10,743.35.
Gold mining stocks outperformed in London, buoyed by a stronger gold price and lower U.S. yields. Fresnillo and Endeavour Mining led the gains in the FTSE, rising 7.8% and 7.5%, respectively.
L'Oreal climbed 1.9% after rival Estee Lauder posted better-than-expected quarterly earnings, lifting sentiment in the consumer staples sector. Conversely, Carlsberg fell 2.1% following first-half results that RBC analysts described as disappointing.
DocMorris shares surged 3.8% as the pharmacy chain reaffirmed its path to profitability, driven by growth in prescription drug sales, which offset early losses for the session.
