European Shares Close Mixed as Growth Worries Persist

By Investors Hub

European stocks have turned mixed in cautious trading on Wednesday, as growth worries persist and investors await a series of indicative votes in the British parliament on how to end an impasse on Britain’s European Union exit.

Traders are also reacting to ECB President Mario Draghi’s comments that the bank’s monetary policy stance will remain accommodative in the face of a weaker growth outlook for the euro area.

Speaking at the ECB Watchers conference in Frankfurt, Draghi said, “We are now seeing a more persistent deterioration of external demand. But a soft patch does not necessarily foreshadow a serious slump.”

While the U.K.?s FTSE 100 Index has edged down by 0.1 percent, the German DAX Index and the French CAC 40 Index are both up by 0.3 percent.

Daimler shares have advanced in Frankfurt. According to the Financial Times, the German automaker is nearing the sale of a 50 percent stake in its small-car brand Smart to China’s Geely Automobile Holdings.

Fiat Chrysler has also rallied on a report saying it could be the subject of a takeover bid from Renault. Shares of the latter added 2.9 percent.

Genfit has also moved to the upside. The biopharmaceutical company has announced the pricing of its global offering of an aggregate of 6.65 million new ordinary shares to specified categories of investors.

Bellway has also moved notably after reporting solid financial results for the half-year ended January 31 and raising its dividend.