European stocks turn negative, focus shifts to ECB

Dhwani Mehta FXStreet

The European equity markets open on a mixed note on Wednesday, and turned negative thereafter, snapping yesterday’s solid rally inspired by miners.

The sentiment across the European markets soured somewhat as the European traders were left unimpressed by steady growth witnessed in the Chinese economy, while increased cautiousness ahead of the ECB policy decision tomorrow, also kept investors on the back foot.

Moreover, markets absorb a latest round of fresh corporate earnings results, with Intel Corp. shares sliding almost 6%, shares of Reckitt Benckiser Group PLC dropped 3% after the FMCG group slashed its full-year sales target.

Meanwhile, Germany's DAX 30 index drops -0.29% to 10,600, while the UK's FTSE 100 index declines -0.29% to, 6,980. Among the other indices, the French CAC 40 index skids -0.16% to 4,502, while the pan-European Euro Stoxx 50 index subtracts -0.15% to trade near 3050 levels.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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