LONDON – European stocks traded around the plain on Wednesday as global markets remain mixed, with concerns about global growth prospects.
The pan-European Stoxx 600 index traded 0.1% lower with several sectors in negative territory.
Investors are also closely monitoring the suspension of Russian gas supplies to Poland and Bulgaria. Gazprom told both sides it was suspending supplies because it refused to pay for gas in rubles, as Moscow recently demanded. The move coincides with a sharp rise in tensions between the Western allies and Russia, as the war in Ukraine continues for three months.
The day is also busy for profits in Europe on Wednesday, with several banks reporting this morning.
Shares of Credit Suisse were 0.1% lower after the bank reported a net loss for the first quarter of 2022 and announced a change in governance as the Swiss lender struggles with litigation costs and the aftermath of the Russia-Russia war. Ukraine.
Meanwhile, Deutsche Bank fell 4.4 percent after reporting a net profit of 1.06 billion euros ($ 1.13 billion) for the first quarter of the year. Shares of Lloyds Banking Group rose 2.3% after first-quarter earnings exceeded expectations.
The expected lower opening in Europe comes amid mixed trade elsewhere. US stock futures were mixed on Tuesday night as the main average continued its April sell-off amid fears of economic slowdown, and Wall Street considered the profits that came after the bell.
Shares in the Asia-Pacific region were mixed in trading on Wednesday as investors reacted to Wall Street’s losses.
Selection of stocks and investment trends by CNBC Pro:
Tensions over the Russia-Ukraine war continue. On Monday, Russia said the threat of nuclear war was very significant, with Foreign Minister Sergei Lavrov stressing that the risks should not be underestimated. US Secretary of Defense Lloyd Austin responded by calling the rhetoric of nuclear war “very dangerous and useless.”
Other revenues are due to Puma, ST Micro, GSK, Persimmon and WPP. In terms of data, consumer confidence data in France and Germany are expected for April and May, respectively.
– Sylvia Amaro of CNBC contributed to this market report.
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