Investing.com – European stocks were down on Wednesday, as disappointing corporate earnings reports weighed, while U.S. futures indexes pointed to a higher open on Wall Street.
During European morning trade, the EURO STOXX 50 fell 0.63%; France’s CAC 40 declined 0.61%; while Germany's DAX was down 0.46%.
In earnings news, shares in French investment bank Natixis plunged 7.55% after it reported lower-than-expected third-quarter earnings. The bank said third-quarter net profit fell by 16% from a year earlier to EUR 305 million, falling short of analyst expectations of EUR 356.5 million.
Shares in Italy’s largest lender Unicredit tumbled 2.04% after it said third-quarter net profit declined by 15% to EUR 334 million, compared to EUR 394 million a year earlier, missing analyst expectations of EUR 388 million.
Elsewhere in the financial sector, shares in France’s largest lender Credit Agricole tumbled 2.90%, Banco Santander saw shares fall 1.50%, while shares in Germany’s largest lender Deutsche Bank declined 2.00%.
Meanwhile, shares in the world’s second-largest cement maker Holcim tumbled 4.40% after it said third-quarter net income fell by 19% to CHF 544 million, down from CHF 673 million a year earlier. The company said third-quarter sales declined to CHF 5.67 billion, while adding that “reaching last year’s operating profit will be challenging.”
In London, the commodity-heavy FTSE 100 was down 0.35% as shares in the commodity sector slumped after a report showed that China’s imports of crude oil and metals declined in October.
Shares in the world’s largest mining group BHP Billiton fell 1.93%, rivals Rio Tinto saw shares tumble 1.88%, while shares in Xstrata, the world’s fourth-largest copper producer declined 1.37%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from technology giants Cisco Systems and retailer Macy’s.
The Dow Jones Industrial Average futures pointed to a modest gain of 0.05%, S&P 500 futures eased up 0.07% and Nasdaq 100 futures indicated a gain of 0.11%.
Later in the day, the U.S. was to release its weekly report on initial jobless claims. The data was being released one day earlier than usual as Thursday was to be a national holiday.
During European morning trade, the EURO STOXX 50 fell 0.63%; France’s CAC 40 declined 0.61%; while Germany's DAX was down 0.46%.
In earnings news, shares in French investment bank Natixis plunged 7.55% after it reported lower-than-expected third-quarter earnings. The bank said third-quarter net profit fell by 16% from a year earlier to EUR 305 million, falling short of analyst expectations of EUR 356.5 million.
Shares in Italy’s largest lender Unicredit tumbled 2.04% after it said third-quarter net profit declined by 15% to EUR 334 million, compared to EUR 394 million a year earlier, missing analyst expectations of EUR 388 million.
Elsewhere in the financial sector, shares in France’s largest lender Credit Agricole tumbled 2.90%, Banco Santander saw shares fall 1.50%, while shares in Germany’s largest lender Deutsche Bank declined 2.00%.
Meanwhile, shares in the world’s second-largest cement maker Holcim tumbled 4.40% after it said third-quarter net income fell by 19% to CHF 544 million, down from CHF 673 million a year earlier. The company said third-quarter sales declined to CHF 5.67 billion, while adding that “reaching last year’s operating profit will be challenging.”
In London, the commodity-heavy FTSE 100 was down 0.35% as shares in the commodity sector slumped after a report showed that China’s imports of crude oil and metals declined in October.
Shares in the world’s largest mining group BHP Billiton fell 1.93%, rivals Rio Tinto saw shares tumble 1.88%, while shares in Xstrata, the world’s fourth-largest copper producer declined 1.37%.
The outlook for U.S. equity markets, meanwhile, was upbeat ahead of earnings reports from technology giants Cisco Systems and retailer Macy’s.
The Dow Jones Industrial Average futures pointed to a modest gain of 0.05%, S&P 500 futures eased up 0.07% and Nasdaq 100 futures indicated a gain of 0.11%.
Later in the day, the U.S. was to release its weekly report on initial jobless claims. The data was being released one day earlier than usual as Thursday was to be a national holiday.