Investing.com - European stocks edged lower on Wednesday, after euro zone finance ministers failed to reach an agreement on releasing a delayed bailout payment for Greece.
During European morning trade, the EURO STOXX 50 fell 0.20%, France’s CAC 40 slipped 0.22%, while Germany’s DAX 30 eased 0.01%.
Talks between euro zone finance ministers and the International Monetary Fund concluded on Tuesday without reaching a deal on unlocking Greece’s bailout package, amid disagreements on how best to reduce the country’s debt to sustainable levels.
The head of the eurogroup of finance ministers Jean-Claude Juncker said a deal was close he didn’t know when Athens would receive its next aid installment. The talks are set to continue next Monday.
Financial stocks were broadly lower, as shares in French lenders BNP Paribas and Societe Generale declined 0.37% and 0.88%, while Germany's Deutsche Bank and Commerzbank dropped 0.36% and 1.32%.
Earlier in the day, Deutsche Bank co-Chief Executive Anshu Jain said he expects "significant consolidation" in the banking industry amid new regulations on capital requirements.
Peripheral lenders added to losses, with Italian banks Unicredit and Intesa Sanpaolo retreating 0.35% and 0.82%, while Spain's BBVA and Banco Santander slid 1.11% and 0.88% respectively.
In London, commodity-heavy FTSE 100 slipped 0.08%, weighed by losses in oil and mining stocks.
Oil and gas major saw shares tumble 1.02%, while rival BP declined 0.18%.
Platinum refiner Johnson Matthey dove 5.66% after reporting a six% drop in profits in the first half and saying that it doesn't expect things to pick up in the latter part of the fiscal year.
Also on the downside, mining giants lost BHP Billiton and Rio Tinto lost 0.76% and 1.50%, while copper producers Xstrata and Kazakhmys trended sharply higher, with shares declining 1.13% and 0.07%.
In the financial sector, shares in the Royal Bank of Scotland climbed 0.53% and Lloyds Banking advanced 0.68%, while Barclays rallied 0.84%. HSBC Holdings underperformed on the other hand, easing 0.04%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.13% loss, S&P 500 futures signaled a 0.22% decline, while the Nasdaq 100 futures indicated a 0.15% fall.
Later in the day, Spain and Germany were to hold auctions of 10-year government bonds.
The U.S. was to release the weekly government report on initial jobless claims. This data was being released one day early ahead of the Thanksgiving holiday on Thursday.