Investing.com - European stocks slipped lower on Wednesday, as markets were still digesting positive comments by Federal Reserve Chairman Ben Bernanke.
During European morning trade, the EURO STOXX 50 eased 0.02%, France’s CAC 40 edged 0.06% lower, while Germany’s DAX 30 dipped 0.01%.
Bernanke said the Fed would maintain its accommodative monetary policy for as long as needed and would taper its USD85 billion-a-month asset purchase program only when it was sure that improvements in the labor market would continue.
Interest rates will probably remain near zero for a “considerable time” after the bank winds up asset purchase program, he added.
Last week Janet Yellen, who has been nominated to succeed Ben Bernanke, reiterated the need for continued stimulus to ensure a robust economic recovery.
Investors were turning their attention to the minutes of the Fed’s October meeting due later Wednesday for further indications on the future course of U.S. monetary policy.
Financial stocks were mixed, as French lenders BNP Paribas and Societe Generale slipped 0.17% and 0.35%, while Germany's Deutsche Bank gained 0.47%.
Among peripheral lenders, Banco Santander added 0.10% and BBVA edged down 0.17% in Spain, while Italy's Intesa Sanpaolo and Unicredit rose 0.32% and 0.53% respectively.
Elsewhere, ThyssenKrupp tumbled 1.15% amid reports it is in talks to sell its Alabama plant to ArcelorMittal and Nippon Steel & Sumitomo Metal Corp., who have teamed up in a joint bid.
In London, commodity-heavy FTSE 100 fell 0.14%, weighed by losses in the mining sector.
Shares in Glencore Xstrata declined 0.51%, while rivals Rio Tinto and BHP Billiton retreated 0.52% and 0.11% respectively.
Adding to losses, Diageo plummeted 1.33% after Chief Executive Officer Ivan Menezes said uncertainties in the global economy will weigh on sales growth.
Meanwhile, financial stocks were mixed. HSBC Holdings eased up 0.05% and Barclays rose 0.28%, while Royal Bank of Scotland gained 0.37%. Lloyds Banking underperformed on the other hand, down 0.23%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures signaled a 0.06% gain, while the Nasdaq 100 futures indicated a 0.04% uptick.
Later in the day, the U.S. was data on retail sales and consumer prices.
During European morning trade, the EURO STOXX 50 eased 0.02%, France’s CAC 40 edged 0.06% lower, while Germany’s DAX 30 dipped 0.01%.
Bernanke said the Fed would maintain its accommodative monetary policy for as long as needed and would taper its USD85 billion-a-month asset purchase program only when it was sure that improvements in the labor market would continue.
Interest rates will probably remain near zero for a “considerable time” after the bank winds up asset purchase program, he added.
Last week Janet Yellen, who has been nominated to succeed Ben Bernanke, reiterated the need for continued stimulus to ensure a robust economic recovery.
Investors were turning their attention to the minutes of the Fed’s October meeting due later Wednesday for further indications on the future course of U.S. monetary policy.
Financial stocks were mixed, as French lenders BNP Paribas and Societe Generale slipped 0.17% and 0.35%, while Germany's Deutsche Bank gained 0.47%.
Among peripheral lenders, Banco Santander added 0.10% and BBVA edged down 0.17% in Spain, while Italy's Intesa Sanpaolo and Unicredit rose 0.32% and 0.53% respectively.
Elsewhere, ThyssenKrupp tumbled 1.15% amid reports it is in talks to sell its Alabama plant to ArcelorMittal and Nippon Steel & Sumitomo Metal Corp., who have teamed up in a joint bid.
In London, commodity-heavy FTSE 100 fell 0.14%, weighed by losses in the mining sector.
Shares in Glencore Xstrata declined 0.51%, while rivals Rio Tinto and BHP Billiton retreated 0.52% and 0.11% respectively.
Adding to losses, Diageo plummeted 1.33% after Chief Executive Officer Ivan Menezes said uncertainties in the global economy will weigh on sales growth.
Meanwhile, financial stocks were mixed. HSBC Holdings eased up 0.05% and Barclays rose 0.28%, while Royal Bank of Scotland gained 0.37%. Lloyds Banking underperformed on the other hand, down 0.23%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures signaled a 0.06% gain, while the Nasdaq 100 futures indicated a 0.04% uptick.
Later in the day, the U.S. was data on retail sales and consumer prices.