Doha: European stocks declined at the close of trading Wednesday, extending their losses for the third consecutive session. The pan-European Stoxx 600 index closed down 0.4 percent at 613.88 points. Germany's DAX index fell 0.3 percent, and France's CAC 40 index dropped 1 percent.

According to Qatar News Agency, while the overall market experienced losses, the energy sector witnessed a notable jump of 2.3 percent, driven by rising oil prices. This sectoral performance highlights a divergence as other sectors showed mixed results. The materials and technology sectors also saw gains, with increases of 1.7 percent and 0.6 percent, respectively.

Shares of ASM International saw a significant rise, jumping 7.1 percent after the chip equipment manufacturer issued second-quarter revenue forecasts that exceeded market expectations. This positive outlook provided a boost to the technology sector amidst the broader market decline.

Conversely, the travel and leisure stocks faced a downturn, dropping by 2.1 percent due to rising energy costs and geopolitical uncertainty. Additionally, aerospace and defense stocks experienced a decline of 2.4 percent, further contributing to the market's overall losses.