Investing.com - European stocks were lower on Wednesday, as markets were jittery ahead of a highly anticipated policy statement by the Federal Reserve later in the day.
During European morning trade, the EURO STOXX 50 retreated 0.53%, France’s CAC 40 declined 0.63%, while Germany’s DAX 30 dropped 0.55%.
Investors remained cautious amid growing expectations that the Fed will to start to unwind its USD85 billion-a-month bond purchasing program later this year.
In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.
Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale tumbled 1.31% and 1.17%, while Germany's Deutsche Bank slid 0.34%.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA declined 1.13% and 1.02% respectively, while Italy's Unicredit and Intesa Sanpaolo retreated 0.40% and 0.74%.
On the upside, Alcatel-Lucent soared 6.24% after the company announced plans to sell assets and save EUR1 billion in fixed costs by 2015 to stem losses and focus the company on more promising business like ultra-high-speed Internet.
Nokia Oyj was also on the upside, rallying 3.70% following reports China’s Huawei Technologies may be interested in buying the company.
In London, FTSE 100 declined 0.67%, as U.K. lenders tracked their European counterparts lower.
Shares in Barclays slipped 0.18% and the Royal Bank of Scotland fell 0.29%, while HSBC Holdings and Lloyds Banking retreated 0.83% and 0.85%.
Meanwhile, mining stocks were trending higher. Rio Tinto and BHP Billiton were up 1.68% and 0.10% respectively, while Fresnillo and Eurasian Natural Resources rose 0.37% and 0.67%.
In the U.S., equity markets pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.11% fall, while the Nasdaq 100 futures indicated a 0.02% gain.
During European morning trade, the EURO STOXX 50 retreated 0.53%, France’s CAC 40 declined 0.63%, while Germany’s DAX 30 dropped 0.55%.
Investors remained cautious amid growing expectations that the Fed will to start to unwind its USD85 billion-a-month bond purchasing program later this year.
In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.
Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale tumbled 1.31% and 1.17%, while Germany's Deutsche Bank slid 0.34%.
Peripheral lenders added to losses, with Spanish banks Banco Santander and BBVA declined 1.13% and 1.02% respectively, while Italy's Unicredit and Intesa Sanpaolo retreated 0.40% and 0.74%.
On the upside, Alcatel-Lucent soared 6.24% after the company announced plans to sell assets and save EUR1 billion in fixed costs by 2015 to stem losses and focus the company on more promising business like ultra-high-speed Internet.
Nokia Oyj was also on the upside, rallying 3.70% following reports China’s Huawei Technologies may be interested in buying the company.
In London, FTSE 100 declined 0.67%, as U.K. lenders tracked their European counterparts lower.
Shares in Barclays slipped 0.18% and the Royal Bank of Scotland fell 0.29%, while HSBC Holdings and Lloyds Banking retreated 0.83% and 0.85%.
Meanwhile, mining stocks were trending higher. Rio Tinto and BHP Billiton were up 1.68% and 0.10% respectively, while Fresnillo and Eurasian Natural Resources rose 0.37% and 0.67%.
In the U.S., equity markets pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures signaled a 0.11% fall, while the Nasdaq 100 futures indicated a 0.02% gain.