Investing.com – European stocks were lower in Wednesday, as pharmaceutical shares fell but declines were limited as auto-makers rallied; meanwhile U.S. futures indexes pointed to a lower open on Wall Street.
During European afternoon trade, the EURO STOXX 50 fell 0.66%; France’s CAC 40 shed 0.61% and Germany's DAX lost 0.40%.
Shares in drug makers AstraZeneca fell 1.40% after news that the U.S. Food and Drug Administration delayed approval for its heart drug Brilinta by 3 months.
Meanwhile, shares in pharmaceutical giant GlaxoSmithKline fell 0.23% after the company's stock was downgraded by Jefferies International, while shares in Germany's Merck fell 1.51%.
Automakers rallied, boosted by Japan's intervention in currency markets. Shares in Renault, which is part owned by Japan's Nissan jumped 3.27%. Elsewhere in the sector, shares in Peugeot Citroen advanced 4.15% after Morgan Stanley upgraded the company's stock.
In the financial sector, shares in Deutsche Bank fell 1.60% and shares in Deutsch Post fell 1.48% after Deutsche Bank announced that it intended to submit a takeover offer for the lender on Monday.
In London, the commodity heavy FTSE 100 was down as miners underperformed. Shares in Rio Tinto fell 0.90%, while shares in Xstrata tumbled 1.41%.
The outlook for U.S. equity markets, meanwhile, was downbeat: Dow Jones Industrial Average futures indicated a dip of 0.15%, S&P 500 futures pointed to a slide of 0.26% and Nasdaq 100 futures indicated a drop of 0.21%.
Later in the day the U.S. was to release official data on manufacturing and industrial production.
During European afternoon trade, the EURO STOXX 50 fell 0.66%; France’s CAC 40 shed 0.61% and Germany's DAX lost 0.40%.
Shares in drug makers AstraZeneca fell 1.40% after news that the U.S. Food and Drug Administration delayed approval for its heart drug Brilinta by 3 months.
Meanwhile, shares in pharmaceutical giant GlaxoSmithKline fell 0.23% after the company's stock was downgraded by Jefferies International, while shares in Germany's Merck fell 1.51%.
Automakers rallied, boosted by Japan's intervention in currency markets. Shares in Renault, which is part owned by Japan's Nissan jumped 3.27%. Elsewhere in the sector, shares in Peugeot Citroen advanced 4.15% after Morgan Stanley upgraded the company's stock.
In the financial sector, shares in Deutsche Bank fell 1.60% and shares in Deutsch Post fell 1.48% after Deutsche Bank announced that it intended to submit a takeover offer for the lender on Monday.
In London, the commodity heavy FTSE 100 was down as miners underperformed. Shares in Rio Tinto fell 0.90%, while shares in Xstrata tumbled 1.41%.
The outlook for U.S. equity markets, meanwhile, was downbeat: Dow Jones Industrial Average futures indicated a dip of 0.15%, S&P 500 futures pointed to a slide of 0.26% and Nasdaq 100 futures indicated a drop of 0.21%.
Later in the day the U.S. was to release official data on manufacturing and industrial production.