European stocks close higher as focus shifts to Greenland talks; BP warns of $5 billion impairment charge

European stocks advanced on Wednesday as investors in the region focus on an upcoming meeting between U.S., Greenlandic and Danish officials to discuss the Arctic island’s future.

The pan-European Stoxx 600 index finished the session up almost 0.2%, edging higher to touch a record high.

All eyes were on a meeting between U.S. Secretary of State Marco Rubio and Greenlandic and Danish officials on Wednesday, with talks set to focus on President Donald Trump’s repeated advances toward “acquiring” the semi-autonomous Danish territory.

Denmark and Greenland have repeatedly said the Arctic island is not for sale, but Trump has mooted the possibility of using military force to seize the mineral-rich island.

In corporate news, oil giant BP warned on Wednesday that it expects to take impairment charges of between $4 billion and $5 billion for the fourth quarter of 2025. The company said those charges were related to its gas and low carbon energy units, and would be excluded from underlying replacement cost profit. It also warned that it expects its oil trading result to be weaker in the period, compared to the third quarter.

BP’s London-listed shares ended the day almost 1.2% higher.

Meanwhile, shares of mining giant Fresnillo — the world’s leading silver producer — touched on a record high shortly after the open before retreating by mid-afternoon, finishing the day down 0.4%. It came after spot silver rose above $90 an ounce for the first time.