Investing.com - European shares closed lower Wednesday, as global slowdown worries continue to weigh on equity risk sentiment.
At the close of European trade, the EURO STOXX 50 dropped 0.63%, France’s CAC 40 fell 0.50%, while Germany’s DAX 30 gave back 0.41%.
Market sentiment remained under pressure after the International Monetary Fund said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
Markets were also jittery amid uncertainty over when Spain will request a sovereign bailout and when Greece will agree with its international lenders on terms for the next tranche of funds.
Elsewhere, Italy saw yields rise at an auction of short-term government debt, with the yield on 12-month bills climbing to 1.94% from 1.69% previously, the highest level since mid-August.
Financial stocks turned broadly lower, as shares in French lenders Societe Generale and BNP Paribas declined 0.22% and 0.53%, while Germany's Commerzbank fell 0.28%. Deutsche Bank climbed 0.92%.
Meanwhile, peripheral lenders extended earlier losses, with Italian banks Unicredit and Intesa Sanpaolo tumbling 1.34% and 1.28%, while Spain's BBVA and Banco Santander plunged 1.51% and 1.32%.
Nokia also remained lower, diving 2.30%, amid reports it is seeking to tout the reliability of Apple's navigation software the Finnish phonemaker has spent billions crafting, as the iPhone faces consumer scorn over the digital maps' many errors.
In London, commodity-heavy FTSE 100 retreated 0.58%, weighed by losses in mining and oil stocks.
Precious metals mining giant Fresnillo saw shares plummet 2,74%, while rival company Polymetal plunged 2,29%.
In addition, oil major BP dropped 0.70%, extending earlier losses, while Anglo American jumped 1.43%.
Elsewhere, Vodafone edged down 0.14%, amid reports the company may win a reprieve in a USD2.2 billion Indian tax case after a panel opposed a retroactive clause in the nation's laws that drove away foreign investors.
On the upside, U.K. lenders remained mostly higher, as shares in Barclays climbed 0.86% and the Royal Bank of Scotland rallied 1.65%, while Lloyds Banking surged 3.40%. HSBC Holdings underperformed on the other hand, with shares slipping 0.15%.
In the U.S., equity markets followed lower with the Dow Jones off by 0.58%, the S&P 500 down 0.34% and the tech heavy Nasdaq lower by 0.32% in midsession trade.
Traders are awaiting the Federal budget balance and trade balance from the U.S. on Thursday.
At the close of European trade, the EURO STOXX 50 dropped 0.63%, France’s CAC 40 fell 0.50%, while Germany’s DAX 30 gave back 0.41%.
Market sentiment remained under pressure after the International Monetary Fund said the crisis in the euro zone remains the greatest threat to the global economy and warned that policymakers need to urgently strengthen fiscal and financial ties within the euro area.
Markets were also jittery amid uncertainty over when Spain will request a sovereign bailout and when Greece will agree with its international lenders on terms for the next tranche of funds.
Elsewhere, Italy saw yields rise at an auction of short-term government debt, with the yield on 12-month bills climbing to 1.94% from 1.69% previously, the highest level since mid-August.
Financial stocks turned broadly lower, as shares in French lenders Societe Generale and BNP Paribas declined 0.22% and 0.53%, while Germany's Commerzbank fell 0.28%. Deutsche Bank climbed 0.92%.
Meanwhile, peripheral lenders extended earlier losses, with Italian banks Unicredit and Intesa Sanpaolo tumbling 1.34% and 1.28%, while Spain's BBVA and Banco Santander plunged 1.51% and 1.32%.
Nokia also remained lower, diving 2.30%, amid reports it is seeking to tout the reliability of Apple's navigation software the Finnish phonemaker has spent billions crafting, as the iPhone faces consumer scorn over the digital maps' many errors.
In London, commodity-heavy FTSE 100 retreated 0.58%, weighed by losses in mining and oil stocks.
Precious metals mining giant Fresnillo saw shares plummet 2,74%, while rival company Polymetal plunged 2,29%.
In addition, oil major BP dropped 0.70%, extending earlier losses, while Anglo American jumped 1.43%.
Elsewhere, Vodafone edged down 0.14%, amid reports the company may win a reprieve in a USD2.2 billion Indian tax case after a panel opposed a retroactive clause in the nation's laws that drove away foreign investors.
On the upside, U.K. lenders remained mostly higher, as shares in Barclays climbed 0.86% and the Royal Bank of Scotland rallied 1.65%, while Lloyds Banking surged 3.40%. HSBC Holdings underperformed on the other hand, with shares slipping 0.15%.
In the U.S., equity markets followed lower with the Dow Jones off by 0.58%, the S&P 500 down 0.34% and the tech heavy Nasdaq lower by 0.32% in midsession trade.
Traders are awaiting the Federal budget balance and trade balance from the U.S. on Thursday.