economy
January 21, 2026
European stocks close flat following Trump's Davos speech, mining names rise
European stocks pared earlier losses Wednesday to close flat, as the prospect of a U.S.-Europe trade war continued to weigh on investor sentiment.
TL;DR
- European stocks closed mixed, influenced by President Trump's speech at the World Economic Forum.
- Trump reiterated his desire to annex Greenland and threatened new tariffs on European countries.
- European lawmakers suspended the approval of an EU-U.S. trade agreement.
- The Stoxx Europe 600 Basic Resources Index saw a significant rise, with mining stocks advancing.
- French President Macron suggested using the EU's Anti-Coercion Instrument in response to potential U.S. tariffs.
- U.K. inflation rose to 3.4% in December, slightly above forecasts.
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