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(Sharecast News) - European shares were lower on Wednesday as investors digested another raft of corporate earnings and trading updates, while a weak dollar was also in focus after comments about the currency's level by US President Donald Trump.
The pan-regional Stoxx 600 index was down 0.47% to 610 at 1151 GMT. Germany's DAX, France's CAC 40, Italy's MIB and the UK's FTSE 100 were all lower.
The euro hit $1.20 against the greenback - a four-year low - after Trump said the dollar's value was "great" when asked whether it had declined too much. This also sent gold prices briefly through the $5,300 mark for the first time.
"Some data on the magnitude of yesterday's dollar slump; the worst day for the greenback since Liberation Day, falling to levels not seen since 2022, and off the back of 2025 being the worst year since 2017," said Emma Wall, chief investment strategist, Hargreaves Lansdown.
"Yesterday's drama was self-inflicted. This is an about turn from Trump's previous stance that a weak dollar indicated a weak nation, which is not on brand for the King of Maga. The 180 may be partly about saving face, but Trump has also identified a weak local currency is good for "business" - which was widely interpreted as meaning US exports."
"Devaluing your currency to boost exports is something Trump has accused other nations of in the past."
Traders were also eyeing reports from tech giants across the Atlantic with earnings from Meta, Microsoft and Tesla due later today, along with the first interest rate decision from the Federal Reserve.
On the economics front, a widely-followed survey showed the mood among German consumers looked set to improve in February, lifted by a sharp rise in income expectations after a rise in the minimum wage since the start of the year as well as reduced inflation fears.
The GfK index measuring consumer sentiment rose to -24.1 points in February from -26.9 points the month before, beating expectations of analysts for only a slight rise to -26.0 points.
On the continent, luxury stocks were under pressure after disappointing results from LVMH, sending shares in the company down 7.5%. Sector peers Christian Dior and Kering were also lower.
Chip maker ASML jumped as it reported an expectation-busting rise in orders and lifted 2026 sales guidance.
Chip equipment maker ASMI gained on the news, as did STMicxro and Infineon.
Volvo Group rose after the Swedish truck maker reported a smaller-than-feared decline in fourth-quarter operating profit.
Reporting by Frank Prenesti for Sharecast.com