European stocks were in the red on Wednesday, with the STOXX 50 down 0.6% and the STOXX 600 falling 0.3%, after both indexes closed near record highs in the previous session. Traders continued to focus on corporate updates. Hermes tumbled 4.8% after its quarterly results disappointed while L’Oreal plunged more than 6% on weaker-than-expected sales. UniCredit fell 2.2% despite reporting stronger profit and revenue. SAP (-1.4%) and Kering (-1.3%) also traded lower ahead of their earnings releases. Novo Nordisk extended losses for a second session (-2.1%) following the resignation of several directors. In contrast, Barclays gained 3.5% after raising its full-year guidance. Heineken rose 1.9% despite cutting its beer sales outlook. Worldline jumped 18% to lead the STOXX 600 after posting revenue that narrowly beat forecasts. Defense stocks also rose, with Rheinmetall up 3.2%, after a planned US-Russia summit was put on hold as President Putin rejected an immediate ceasefire in Ukraine.