Investing.com – European stocks were broadly lower on Wednesday, amid mounting concerns over Spain’s sovereign debt, while U.S. futures indexes pointed to a lower open on Wall Street.
During European morning trade, the EURO STOXX 50 tumbled 0.84%; France’s CAC 40 fell 0.57%; while Germany's DAX slumped 0.62%.
Shares in the financial sector were broadly lower after ratings agency Moody’s put Spain's Aa1 sovereign credit rating on review for a possible downgrade, citing its high funding needs, doubts over its banking sector and concerns surrounding regional finances.
Shares in Spain’s largest lender Banco Santander plunged 2.84%, while the nation’s second biggest bank BBVA saw shares tumble 2.38%.
Meanwhile, shares in Allied Irish Bank plummeted 10.04% amid speculation Ireland would inject EUR 3.5 billion of capital into the lender by the end of the year, leaving it with a 90% stake in the nation’s second biggest bank.
Elsewhere, shares in clothing retailer Hennes & Mauritz slumped 1.64% after the company reported an 8% rise in comparable sales for November, falling short of analyst expectations of 8.3%.
In London, the commodity-heavy FTSE 100 fell 0.33% as metal and crude oil prices retreated on the back of a broadly stronger U.S. dollar. Shares in the world’s fourth largest copper producer Xstrata tumbled 1.35%, mining giant Rio Tinto saw shares slump 1.17%, while shares in oil and gas giant Royal Dutch Shell fell 0.97%.
Meanwhile, shares in Simon Property Group fell 1.27% after it made an offer worth approximately GBP 3 billion for British shopping mall operator Capital Shopping Centers, which saw shares jump 3.08%.
The outlook for U.S. equity markets, meanwhile, was downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.21%, S&P 500 futures indicated a drop of 0.36% and Nasdaq 100 futures pointed to a decrease of 0.38%.
Later in the day, the U.S. was to publish a flurry of data, with reports on consumer price inflation as well as data on manufacturing activity in New York State. The country was also to publish official data on industrial production.
During European morning trade, the EURO STOXX 50 tumbled 0.84%; France’s CAC 40 fell 0.57%; while Germany's DAX slumped 0.62%.
Shares in the financial sector were broadly lower after ratings agency Moody’s put Spain's Aa1 sovereign credit rating on review for a possible downgrade, citing its high funding needs, doubts over its banking sector and concerns surrounding regional finances.
Shares in Spain’s largest lender Banco Santander plunged 2.84%, while the nation’s second biggest bank BBVA saw shares tumble 2.38%.
Meanwhile, shares in Allied Irish Bank plummeted 10.04% amid speculation Ireland would inject EUR 3.5 billion of capital into the lender by the end of the year, leaving it with a 90% stake in the nation’s second biggest bank.
Elsewhere, shares in clothing retailer Hennes & Mauritz slumped 1.64% after the company reported an 8% rise in comparable sales for November, falling short of analyst expectations of 8.3%.
In London, the commodity-heavy FTSE 100 fell 0.33% as metal and crude oil prices retreated on the back of a broadly stronger U.S. dollar. Shares in the world’s fourth largest copper producer Xstrata tumbled 1.35%, mining giant Rio Tinto saw shares slump 1.17%, while shares in oil and gas giant Royal Dutch Shell fell 0.97%.
Meanwhile, shares in Simon Property Group fell 1.27% after it made an offer worth approximately GBP 3 billion for British shopping mall operator Capital Shopping Centers, which saw shares jump 3.08%.
The outlook for U.S. equity markets, meanwhile, was downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.21%, S&P 500 futures indicated a drop of 0.36% and Nasdaq 100 futures pointed to a decrease of 0.38%.
Later in the day, the U.S. was to publish a flurry of data, with reports on consumer price inflation as well as data on manufacturing activity in New York State. The country was also to publish official data on industrial production.