By Investors Hub
European stocks were mixed on Wednesday as geopolitical worries lingered and investors awaited minutes of the Fed’s June meeting later in the day for more clues on interest rate outlook.
A day after North Korea successfully test-launched an intercontinental ballistic missile that experts said could hit the U.S. state of Alaska, South Korea and the U.S. held a joint missile drill to show their precision fire capability.
The pan-European Stoxx Europe 600 was marginally lower at 382.23 in late opening deals after declining 0.3 percent in the previous session.
France’s CAC 40 index was rising 0.1 percent in choppy trade and the German DAX was little changed with a positive bias, while the U.K.’s FTSE 100 was down 0.1 percent, dragged down by banks, energy and gold mining stocks.
German automakers BMW and Daimler fell around 1 percent after Swedish carmaker Volvo said all new models launched from 2019 would have an electric motor. Volvo shares rose 1 percent.
Swedish telecom gear maker Ericsson advanced 1.5 percent on news its Chairman Leif Johansson would step down next year to complete an overhaul of top management.
Payment processor Worldpay Group jumped 4 percent in London to extend Tuesday’s strong rally on takeover news.
Housebuilder Persimmon climbed 2.5 percent after issuing a robust trading statement.
In economic releases, the euro area private sector expanded more than initially estimated in June, final data from IHS Markit showed.
The composite output index fell to a four-month low of 56.3 in June from 56.8 in May, but stayed above the flash estimate of 55.7. Nonetheless, rates of expansion slowed in Germany, France and Italy.
Another report from Eurostat showed that Eurozone retail sales grew more than expected in May. Retail sales climbed 0.4 percent on a monthly basis in May, faster than the 0.1 percent rise in April and the 0.3 percent increase economists had expected.
The U.K. service sector expanded at a slower pace in June amid the weakest upturn in new work since last September, survey data from IHS Markit and Chartered Institute of Procurement & Supply showed.
