Investing.com - European stocks were mixed on Wednesday, after another batch of quarterly earnings reports.
During European morning trade, the EURO STOXX 50 dipped 0.02%, France’s CAC 40 rose 0.21%, while Germany’s DAX 30 edged up 0.16%.
Oil prices moved back higher on Wednesday after plunging on Tuesday due to concerns over a global supply glut.
Energy stocks were mixed, as French oil and gas major Total SA (PA:TOTF) slipped 0.14% and Italy’s ENI (MI:ENI) gained 0.67%, while Norwegian rival Statoil ASA (OL:STL) climbed 0.59%.
Financial stocks were also mixed, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) rallied 1.86% and 3.75%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) slid 0.46% and 1.87%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) gained 0.09% and 1.29% respectively, while BBVA (MC:BBVA) dipped 0.07% and Banco Santander (MC:SAN) advanced 0.84% in Spain.
In earnings news, AXA SA (PA:AXAF) rose 0.39% after the French insurer said first quarter revenue increased 1% year-on-year. The company also announced plans to sell its wrap platform business called Elevate to Standard Life (LON:SL).
Anheuser-Busch Inbev SA (BR:ABI)plummeted 2.87% after the brewer reported a 2.5% rise in first-quarter core earnings, but said its volumes declined.
Siemens AG NA (DE:SIEGn) reported a 5% increase in revenue for the three to March and said profits in its key industrial business climbed 28% year-on-year, sending shares in the German engineering company up 0.53%.
In London, commodity-heavy FTSE 100 slid 0.45%, weighed by sharp losses in the mining sector.
Shares in Randgold Resources (LON:RRS) tumbled 4.01% and Antofagasta (LON:ANTO) lost 4.13%, while Anglo American (LON:AAL) and Bhp Billiton (LON:BLT) rdove 5.23% and 5.54% respectively.
BHP Billiton was in the spotlight on Wednesday following reports Brazilian prosecutors filed a $44 billion lawsuit against the miner and its partner Vale over the collapse of a dam that killed 17 people.
Royal Dutch Shell (LON:RDSa) added to losses, with shares falling 0.23% after the energy company reported a sharp decline in first-quarter earnings.
J Sainsbury PLC (LON:SBRY) lost 1.89% after the supermarket chain posted a 13.8% drop in net profit for the year to March 12 and warned that the market will remain competitive "for the foreseeable future".
Meanwhile, financial stocks were mostly higher, as Lloyds Banking (LON:LLOY) edged up 0.11% and the Royal Bank of Scotland (LON:RBS) added 0.27%, while Barclays (LON:BARC) gained 0.46%. HSBC Holdings (LON:HSBA) underperformed, with shares slipping 0.10%.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.03% rise, S&P 500 futures a 0.01% uptick, while the Nasdaq 100 futures indicated a 0.01% gain.