Investing.com - European stocks were lower on Wednesday, as markets were still jittery amid uncertainty over Greece's future in the euro zone and as investors eyed the release of the bloc's retail sales data later in the day.
During European morning trade, the EURO STOXX 50 slipped 0.22%, France’s CAC 40 edged down 0.08%, while Germany’s DAX 30 fell 0.23%.
Market sentiment found support after the Greek government outlined on Tuesday its plans to renegotiate the terms of its €140 billion bailout, retreating from election pledges to demand a debt write-down.
The move eased concerns over a conflict with the country’s creditors which could lead to its exit from the euro zone.
Greek Finance Minister Yanis Varoufakis has proposed debt swaps to ease the country’s burden debt, under which creditors would swap outstanding debt for new growth-linked bonds. This could help to reduce the risk of losses on privately held bonds.
Earlier Wednesday, market research group Markit said that Spain's services purchasing managers' index rose to 56.7 in January from 54.3 in December, exceeding expectations for a rise to 54.9.
Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) slid 0.26% and 0.85%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) declined 0.30% and 1.04%.
Among peripheral lenders, Italy's Intesa Sanpaolo and Unicredit dropped 0.87% and 1.21% respectively, while Spanish bank Banco Santander retreated 0.60%.
Elsewhere, LVMH Moet Hennessy Louis Vuitton (PARIS:LVMH) surged 5.12% after the luxury retailer said it is confident for 2015 as demand for its biggest brand led to better-than-expected growth at its fashion and leather-goods unit.
In London, commodity-heavy FTSE 100 slipped 0.10%, weighed by losses in the mining sector.
Shares in Glencore Xstrata (LONDON:GLEN) slid 0.39% and Rio Tinto lost 1.37%, while Bhp Billiton and Fresnillo (LONDON:FRES) plummeted 1.52% and 1.85% respectively.
Financial stocks were also mostly lower, as HSBC Holdings (LONDON:HSBA) dipped 0.04% and the Royal Bank of Scotland (LONDON:RBS) dropped 0.56%, while Lloyds Banking (LONDON:LLOY) declined 0.62%. Barclays overperformed however, edging up 0.08%.
Meanwhile, SKY PLC (LONDON:SKYB) led gains on the index, with shares rallying 2.15% after the cable-TV provider said first-half revenue increased by 17%, helped by the company's expansion in Italy and Germany.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.09% slip, S&P 500 futures signaled a 0.12% fall, while the Nasdaq 100 futures indicated a 0.17% decline.
Later in the day, the U.S. was to release a report on ADP nonfarm payrolls. In addition, the Institute of Supply Management was to produce data on non-manufacturing activity.