European markets closed in the green following United States President Donald Trump's announcement regarding the introduction of 25% tariffs on car imports from the European Union. Meanwhile, Russia's President Vladimir Putin said his country would respond to United States missile systems near the Russian border. Earlier, German Chancellor Angela Merkel stated she supports stronger European unity against US policies.

FTSE 100 ended 0.11% higher, pushed up by the mining industry. The CAC 40 was 0.29% in the green at the closing bell, with Vivendi, TechnipFMC and Carrefour rising 1.96%, 1.98% and 1.70%, respectively. The DAX finished flat. Deutsche Boerse being the biggest winner, rising 3.13%, while Continental plummeted 13.19%.

Putin claims US sanctions senseless

Russian President Vladimir Putin stated on Wednesday that the United States sanctions will be "counterproductive and senseless." Putin said that Russia is the best supplier of liquefied natural gas (LNG) to Europe because of the proximity and the amount needed.

Previously, US Government sanctions targeting Russian companies affected entities involved in the construction of the Nord Stream 2. The Nord Stream 2 is supposed to transport gas directly to Germany, circumventing Ukraine and Poland.

Russia has also argued earlier that the Ukraine route is non-viable, calling Kiev an unreliable partner because of the trade disputes between the two countries. The stream raised concerns that it would make Europe even more dependable on Russian gas, thus giving Russia more leverage in political dealings.

KKR reportedly close to buying Magneti Marelli

Car components producer Magneti Marelli is the target of an acquisition attempt by Calsonic Kansei Corp. from Japan. The information revealed the unit of Fiat Chrysler Automobiles NV is under consideration to be sold to the affiliate of private equity giant KKR and Co. but that the supposed negotiations could still fail.

The article adds an estimate that the automaker's subsidiary is valued at €3.23 billion, implying the price may top the sum. The deal may be worth up to €6 billion including debt. Other bidders, namely Apollo Global Management Llc, Bain Capital LP and India’s Mahindra and Mahindra Ltd. are also competing for the purchase.

Magneti Marelli was planned for a spinoff and listing under FCA's chief executive Sergio Marchionne, who died in July. The initial public offering was seen happening in Milan early in 2019 or even before that. KKR took over Calsonic last year, paying $4.5 billion in total to owners led by Nissan Motor Co.

Saudi Aramco called off IPO

The stock market listing of possibly the world's largest company was scrapped. It was reported that Saudi Arabian Oil Co. won't conduct an initial public offering, for which it has been prepared for a few years by the kingdom's government. It seems that, the decision about Aramco was made "some time ago" but state officials have intentionally been coming out with delays. The monarchy was weighing options for domestic and overseas debuts with a stake of up to 5%. The advisory group that worked on the project has reportedly ended its activities as the decision makers in Riyadh are turning to a purchase of a strategic interest in Saudi Basic Industries Corp., or Sabic, the nation's flagship petrochemicals manufacturer.