European markets end Wednesday down as earnings hold spotlight; L’Oreal down 6%

European equities finished Wednesday marginally lower as a wave of corporate earnings reports set the tone for trading. The pan-European Stoxx 600 closed about 0.2% weaker, with no single sector or market dominating the move.

On the corporate front, Barclays outperformed after its third-quarter update, which included an upgraded guidance and a £500 million ($667 million) share buyback; the bank’s stock ended the session up 4.9%. L’Oreal fell 6.7% after quarterly results failed to meet market expectations despite like-for-like sales growth of 3.4%, with weaker North American sales and tariff pressures cited as headwinds even as China delivered growth. The French cosmetics group is moving ahead with plans to acquire Kering’s beauty division.

Heineken said it expects beer volumes to be lower in 2025 after a 2.3% drop in third-quarter volumes, and narrowed its full-year outlook toward the lower bound of its 4%–8% guidance; the brewer’s shares edged up more than 1%. Hermes ended the day down 2.3% after reporting third-quarter sales of €3.9 billion, a 10% increase at constant exchange rates, with leather goods and saddlery—handbags included—delivering a 13% year-on-year lift described by the company as “a remarkable performance.”

In banking, Norway’s DNB Bank recorded a third-quarter profit attributable to shareholders of NOK 10.27 billion ($1.02 billion), slightly above consensus of NOK 10.17 billion, but its net interest income of NOK 15.99 billion missed analyst forecasts and the stock finished down 4.9%. Svenska Handelsbanken reported net interest income of SEK 10.47 billion in line with expectations and a net profit of SEK 5.95 billion, beating consensus. Italian lender UniCredit beat estimates with a record quarter, reporting net profit of €2.6 billion versus a company-compiled forecast of €2.4 billion, though the shares closed 2.3% lower. UniCredit CEO Andrea Orcel said the bank remains an active investor in Commerzbank, where it has accumulated a roughly 26% stake, and indicated plans to raise its holding in Greece’s Alpha Bank toward about 30%.

Recruitment group Randstad slumped 6% after reporting year-on-year declines in revenue, operating profit and net income, with third-quarter revenue falling 3.4% to €5.8 billion. Broadcaster ITV was among the weakest performers on the Stoxx 600, sliding 8.6% after largest shareholder Liberty Global sold half of its stake. Novo Nordisk extended losses, ending the session down 3.3% after news of board resignations following disputes with the controlling shareholder, the Novo Nordisk Foundation.

UK inflation data showed headline consumer price inflation remained unchanged at 3.8% in September, a figure that surprised markets by holding steady rather than rising slightly. Separately, reports indicated planned talks by U.S. President Donald Trump and Russian President Vladimir Putin on the Ukraine conflict have been postponed; the decision followed a call between U.S. Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov, according to NBC News.