Investing.com - European stocks were mixed on Wednesday, as investors eyed the release of fresh earnings reports, while concerns over potential political turmoil in Europe persisted.
During European morning trade, the EURO STOXX 50 edged 0.04% higher, France’s CAC 40 added 0.17%, while Germany’s DAX 30 inched up 0.02%.
Investors remained cautious amid concerns over the possibility of a Brexit or Trump-style shock result in France’s upcoming presidential election.
Worries over elections in the Netherlands, Germany and possibly Italy, as well as the ongoing row over Greece's bailout added to concerns over political risk in the euro area.
Dovish remarks by European Central Bank President Mario Draghi, who on Monday downplayed calls for the bank to scale back its stimulus program, also weighed.
Financial stocks were mixed, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) declined 0.55% and 1.57%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) gained 0.03% and 0.42%.
Among peripheral lenders, Intesa Sanpaolo (MI:ISP) slid 0.56% and Unicredit (MI:CRDI) surged 2.56% in Italy, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) climbed 0.53% and 0.75% respectively.
Elsewhere, Sanofi (PA:SASY) SA surged 2.67% even after the French drugmaker said profit may drop this year and that it is counting on new therapies to replace falling revenue from the insulin Lantus, which lost patent protection in 2015.
Syngenta AG (SIX:SYNN) added to gains, with shares up 1.06% after the Swiss company reported a net profit of $1.178 billion in 2016.
In London, FTSE 100 fell 0.20%, led by Hargreaves Lansdown (LON:HRGV), whose shares plummeted 2.67% after the company reported a 21% increase in pre-tax profits to £131.0 million for the six months to December 31. The company also a reported a 16% rise in net revenues.
Shire Plc (LON:SHP) added to losses, as shares tumbled 1.43% after the U.S. Federal Trade Commission on Tuesday sued a company that was acquired by the British pharmaceutical group in 2013, accusing it of using frivolous regulatory filings and lawsuits to delay generic competition to a branded antibiotic.
Financial stocks were also mostly lower, as Barclays (LON:BARC) slipped 0.24% and HSBC Holdings (LON:HSBA) dropped 0.44%, while Lloyds Banking (LON:LLOY) declined 0.67%. The Royal Bank of Scotland (LON:RBS) overperformed however, with shares jumping 1.15%.
Meanwhile, mining stocks were broadly higher on the commodity-heavy index. Shares in Glencore (LON:GLEN) advanced 2.01% and Anglo American (LON:AAL) jumped 2.25%, while rivals Antofagasta (LON:ANTO) and Rio Tinto (LON:RIO) rallied 2.45% and 2.68% respectively.
In the U.S., equity markets pointed to a mixed open. The Dow Jones Industrial Average futures pointed to a 0.04% gain, S&P 500 futures showed a 0.03% dip, while the Nasdaq 100 futures indicated a 0.09% rise.