By Investors Hub
European stocks have moved mostly lower on Wednesday as a further drop in bond yields pulled down banking stocks and technology stocks followed their U.S. and Asian peers lower on privacy concerns and on worries about tighter industry regulations.
The French CAC 40 Index and the German DAX Index are down by 0.5 percent and 0.4 percent, respectively, although the U.K.?s FTSE 100 Index is bucking the downtrend and inching up by 0.1 percent.
French aircraft manufacturer Dassault Aviation has moved to the downside as the exercise of the option for the purchase of 12 additional Rafale fighters for Qatar came into effect.
German biotech firm Evotec has also fallen after on reporting a decline in 2017 net income. Daimler has moved lower after the automaker said accounting changes will result in a changed outlook for its Mercedes-Benz Cars and Daimler Buses units.
Volkswagen has come under pressure on a Bloomberg report that its fiscal affairs in Luxembourg are under scrutiny from European Union watchdogs.
Meanwhile, Shire has jumped after Japan’s Takeda said it is “considering making an approach” to buy the Irish drug maker.
In economic news, French consumer sentiment remained stable in March, survey results from the statistical office Insee showed. The consumer confidence index held steady at 100 in March, matching economists’ expectations.
German consumer confidence is set to improve in April, survey data from the market research group GfK showed. The forward-looking consumer sentiment index unexpectedly rose by 0.1 points to 10.9 in April. The index was forecast to edge down to 10.7.
Adedapo Adesanya