This aerial view shows icebergs floating in the waters beaten down by the sun with buildings in the background off Nuuk, Greenland, on March 11, 2025, on the day of Greenland, the autonomous Danish territory, legislative elections.
Odd Andersen | Afp | Getty Images
LONDON — European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump’s threat to annex Greenland.
The pan-European Stoxx 600 was little changed in early trade, with sectors and major regional bourses in mixed territory.
European defense stocks moved higher, with the Stoxx Europe Aerospace and Defense index adding around 0.3% — paring an earlier bigger rise, but putting it on course for its fourth consecutive day of gains.
Global market attention is turning to President Trump’s intention regarding Greenland, an autonomous territory of Denmark, following the U.S. military operation that led to the capture and arrest of Venezuela’s leader Nicolas Maduro.
The president and his team are considering “a range of options” to acquire Greenland — including “utilizing the U.S. Military,” White House press secretary Karoline Leavitt told CNBC on Tuesday.
Trump has insisted that the U.S. needs the Arctic island for national security purposes and, this week, pointed to Russian and Chinese activities in the region.
Greenland and Denmark have both repeatedly said that the country is not up for grabs, and European leaders on Tuesday issued a statement that said, “Greenland belongs to its people. It is for Denmark and Greenland, and them only, to decide on matters concerning Denmark and Greenland.”
In a separate statement on Tuesday evening, Danish Defense Minister and Deputy Prime Minister Troels Lund Poulsen said Denmark would spend 88 billion Danish kroner ($13.8 billion) on rearming Greenland given “the serious security situation we find ourselves in.”
“I hope that the United States also recognizes that fact and is ready to cooperate on our common interest in Arctic security,” he said. “Because Denmark would like to continue to be an ally of the United States. But that requires a mutual willingness to show respect and cooperation.”
Looking at individual stocks in Europe, logistics firm InPost shed 5.8% to tumble to the bottom of the Stoxx 600 in early trade. The stock gained 28% in Tuesday’s session after the company said it had received an indicative proposal for an acquisition of all its shares.
Elsewhere, Bayer shares rose 1.1% after the company announced it was suing Covid-19 vaccine makers Pfizer, BioNTech, and Moderna, alleging the companies had used its mRNA technology in their own immunizations for the virus. In lawsuits filed in Delaware federal court on Tuesday, Bayer accused the companies of patent infringement.
“Moderna is aware of the litigation and will defend ourselves against these claims,” a spokesperson for Moderna said in a statement on Wednesday. “Beyond that, we do not have a comment.”
Pfizer and BioNTech did not immediately respond to CNBC’s request for comment.
Data releases on Wednesday include flash euro zone inflation data for December, with economists polled by Reuters expecting a rate of 2%, in line with the European Central Bank’s target.
