Investing.com –European stocks were mixed on Wednesday, as investors digest a flurry of earnings results.
The pan-European Euro Stoxx 50 inched forward half a point or 0.02% as of 5:18 AM ET (10:18 AM GMT).
In Spain, the IBEX 35 rallied 37 points or 0.37% as investors shrug off political uncertainty and the central government moves to take over the Catalonia region for voting for independence. Bank stocks were among the biggest gainers with Santander (MC:SAN) rallying 1.64%, Caixabank SA (MC:CABK) increasing 1.94 %, and BBVA (MC:BBVA) up 1.56%. B. Sabadell (MC:SABE)was down 0.66% while airport operator Aena Aeropuertos SA (MC:AENA) fell 2.65%, despite reporting an increase in revenue in the first half of the year.
In London, the FTSE 100 decreased 31 points or 0.42% as bank stocks fell, with Barclays (LON:BARC) down 0.20%, and Lloyds (LON:LLOY) bank down 0.03%. Commodities firm Glencore (LON:GLEN) slumped 1.70% after news that a village in Peru was suing the firm for liability of police abuse allegations.
Some of the top gainers in morning trading were the British American Tobacco (LON:BATS) company, which was up 1.95% after it said it was expanding its “next generation” products. Provident Financial (LON:PFG) increased 1.24% while financial services firm Hargreaves rose 1.11%.
In Germany the DAX fell 8 points points or 0.07%, with luxury car maker BMW falling 1.06% and automation company Siemens inching down 0.34%.
Airline firm Deutsche Lufthansa AG (DE:LHAG) was among the top gainers, increasing 1.02% after reporting strong third-quarter revenue, while Commerzbank (DE:CBKG) surged 2.06% and chemical firm BASF SE NA O.N. (DE:BASFN) up 2.06%.
Meanwhile, Germany's IFO Business Climate rose in October to 116.7, from 115.3 in September, as companies are optimistic about the upcoming months.
France’s CAC 40 rose seven points or 0.13% as luxury retailer Kering (PA:PRTP) posted strong third-quarter earnings, driven by its Gucci brand. It’s stock was up 7.25% while designerLVMH Moet Hennessy Louis Vuitton SE (PA:LVMH) rose 1.16%. Bank stocks were also doing well, with BNP Paribas (PA:BNPP) increasing 0.31% and Societe Generale (PA:SOGN) gaining 0.85%.
Elsewhere car manufacturer Peugeot SA (PA:PEUP) dipped 1.60% despite posting 34% increase in revenue in the last quarter, while automotive supplier Valeo (PA:VLOF) slumped 3.97%.
In commodities, gold futures fell 0.38% to $1,273.44 a troy ounce. Meanwhile crude oil futures slumped 0.44% to $52.24 a barrel. The U.S. dollar index, which measures the greenback against a basket of six other currencies, fell to 93.79.