Investing.com - European stocks were lower on Wednesday, as markets remained jittery ahead of a highly anticipated G20 summit, due to begin on Friday.
During European morning trade, the EURO STOXX 50 edged down 0.16%, France’s CAC 40 fell 0.20%, while Germany’s DAX 30 slipped 0.10%.
Investors remained cautious after a statement by the G7 on Tuesday reaffirmed a commitment to market-determined exchange rates and said that fiscal and monetary policy won't target exchange rates.
The statement came ahead of G20 meeting starting Friday, which is likely to feature discussions on competitive currency devaluations.
Financial stocks were mixed, as French lenders BNP Paribas and Societe Generale plunged 1.25% and 3.09%, while Germany's Deutsche Bank rose 0.30%.
Earlier in the day, Societe Generale posted a fourth-quarter loss after writing down its stake in derivatives broker Newedge Group and setting aside EUR300 million for legal expenses.
Meanwhile, peripheral lenders trended mostly lower, with Italian banks Intesa Sanpaolo and Unicredit dropping 0.71% and 0.77% respectively, while Spain's Banco Santander slipped 0.17%. BBVA overperformed on the other hand, climbing 0.53%.
On the upside, Europe’s third-largest oil producer, Total, advanced 0.73% after saying that profit excluding changes in inventories advanced 13% to EUR3.1 billion in the fourth quarter from EUR2.7 billion a year earlier.
In London, FTSE 100 fell 0.31%, ahead of comments by Bank of England Governor Mervyn King.
Financial stocks were mostly lower, as shares in HSBC Holdings edged down 0.19%, the Royal Bank of Scotland dropped 0.34% and Lloyds Banking retreated 0.60%, although Barclays saw shares climb 0.46%.
Meanwhile, mining stocks posted sharp gains, led by Rio Tinto, up 1.85%, and closely followed by BHP Billiton, whose shares surged 1.53%, while copper producers Xstrata and Kazakhmys rallied 1.52% and 1.71% respectively.
Oil and gas giant Anglo American added to gains, advancing 0.90%, as did Tullow Oil, up 2.25%, while Petrofac, an international provider of integrated facilities services to the oil, gas and energy production and processing industries, saw shares surge 2.59%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures signaled a 0.08% gain, while the Nasdaq 100 futures indicated a 0.16% increase.
Later in the day, the euro zone was to release official data on industrial production, while the U.S. was to produce government data on retail sales.
During European morning trade, the EURO STOXX 50 edged down 0.16%, France’s CAC 40 fell 0.20%, while Germany’s DAX 30 slipped 0.10%.
Investors remained cautious after a statement by the G7 on Tuesday reaffirmed a commitment to market-determined exchange rates and said that fiscal and monetary policy won't target exchange rates.
The statement came ahead of G20 meeting starting Friday, which is likely to feature discussions on competitive currency devaluations.
Financial stocks were mixed, as French lenders BNP Paribas and Societe Generale plunged 1.25% and 3.09%, while Germany's Deutsche Bank rose 0.30%.
Earlier in the day, Societe Generale posted a fourth-quarter loss after writing down its stake in derivatives broker Newedge Group and setting aside EUR300 million for legal expenses.
Meanwhile, peripheral lenders trended mostly lower, with Italian banks Intesa Sanpaolo and Unicredit dropping 0.71% and 0.77% respectively, while Spain's Banco Santander slipped 0.17%. BBVA overperformed on the other hand, climbing 0.53%.
On the upside, Europe’s third-largest oil producer, Total, advanced 0.73% after saying that profit excluding changes in inventories advanced 13% to EUR3.1 billion in the fourth quarter from EUR2.7 billion a year earlier.
In London, FTSE 100 fell 0.31%, ahead of comments by Bank of England Governor Mervyn King.
Financial stocks were mostly lower, as shares in HSBC Holdings edged down 0.19%, the Royal Bank of Scotland dropped 0.34% and Lloyds Banking retreated 0.60%, although Barclays saw shares climb 0.46%.
Meanwhile, mining stocks posted sharp gains, led by Rio Tinto, up 1.85%, and closely followed by BHP Billiton, whose shares surged 1.53%, while copper producers Xstrata and Kazakhmys rallied 1.52% and 1.71% respectively.
Oil and gas giant Anglo American added to gains, advancing 0.90%, as did Tullow Oil, up 2.25%, while Petrofac, an international provider of integrated facilities services to the oil, gas and energy production and processing industries, saw shares surge 2.59%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures signaled a 0.08% gain, while the Nasdaq 100 futures indicated a 0.16% increase.
Later in the day, the euro zone was to release official data on industrial production, while the U.S. was to produce government data on retail sales.