Investing.com – European stocks snapped a 6-day rally on Wednesday, as shares in banking broker ICAP and British television broadcaster ITV tumbled, overshadowing record profit forecasts by chip manufacturer Intel.
During European afternoon trade, the EURO STOXX 50 was down 0.46%; France’s CAC 40 shed 0.59% and Germany's DAX fell 0.13%.
Earlier in the day, shares in ICAP, the biggest broker of transactions between banks, lost 5.3% after saying “volumes slowed significantly in June as our customers’ and end investors’ risk appetites reduced.”
Meanwhile, shares of U.K. television broadcaster ITV shed 4% after it was downgraded by Bank of America Merrill Lynch, who said the stock was too expensive, "unless ITV adopts a subscription model, given macro uncertainty and ongoing structural pressures."
However the technology sector limited declines as Intel shares gained 6% in pre-market New York trading.
In London, the commodity heavy FTSE 100 was down 0.68% as shares in BP shed 1.5% after the company delayed a critical test to check if it can close a cap placed on the leaking Gulf of Mexico oil well.
The outlook for U.S. equity markets, meanwhile, was optimistic: Dow Jones Industrial Average futures indicated an increase of 0.09%, S&P 500 futures pointed to a gain of 0.05% and Nasdaq 100 futures indicated a rise of 0.74%.
Later Wednesday, the U.S. was to produce data on retail sales while the minutes of the last meeting of the Federal Open Market Committee were also due to be published.
During European afternoon trade, the EURO STOXX 50 was down 0.46%; France’s CAC 40 shed 0.59% and Germany's DAX fell 0.13%.
Earlier in the day, shares in ICAP, the biggest broker of transactions between banks, lost 5.3% after saying “volumes slowed significantly in June as our customers’ and end investors’ risk appetites reduced.”
Meanwhile, shares of U.K. television broadcaster ITV shed 4% after it was downgraded by Bank of America Merrill Lynch, who said the stock was too expensive, "unless ITV adopts a subscription model, given macro uncertainty and ongoing structural pressures."
However the technology sector limited declines as Intel shares gained 6% in pre-market New York trading.
In London, the commodity heavy FTSE 100 was down 0.68% as shares in BP shed 1.5% after the company delayed a critical test to check if it can close a cap placed on the leaking Gulf of Mexico oil well.
The outlook for U.S. equity markets, meanwhile, was optimistic: Dow Jones Industrial Average futures indicated an increase of 0.09%, S&P 500 futures pointed to a gain of 0.05% and Nasdaq 100 futures indicated a rise of 0.74%.
Later Wednesday, the U.S. was to produce data on retail sales while the minutes of the last meeting of the Federal Open Market Committee were also due to be published.