European stocks edge down with ECB meeting in focus

19 October, 2016

European stocks edge down with ECB meeting in focus

On Wednesday, European stocks traded lower, as market participants became more cautious ahead of the ECB’s upcoming policy gathering on Thursday.

During European morning trade, the EURO STOXX 50 descended 0.15%, French CAC 40 dropped 0.17%, while German DAX 30 lost 0.29%.

Financial stocks were mixed, because in France, BNP Paribas soared 0.65%, Societe Generale fell 0.66%. Meanwhile, in Germany Commerzbank and Deutsche Bank leapt 0.10% and 0.43% respectively.

As for peripheral lenders, in Italy, Intesa Sanpaolo rose 0.57%, Unicredit dived 0.72%. In Spain, banks BBVA along with Banco Santander surged 0.29% and 0.32% respectively.

Elsewhere, Carrefour SA leapt 1.32% after the French retailer told that decent sales in Latin America helped to offset dropping sales in its core French market as well as ongoing difficulties in China.

On the downside, SAP AG went down 0.80% having announced plans to make its SuccessFactors employee-management service available exactly as an option on Microsoft’s Azure cloud for the next five years.

In London, FTSE 100 lost 0.14%.

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