(MENAFN– ecpulse)
European stocks swung between gains and losses early Wednesday, joint the globally mixed sentiment with benchmarks fluctuating in Asia and even inching lower in the United States.
Minutes for the last Bank of England policy meeting were released early today, showing again an unanimous vote upon the policymaker over keeping the benchmark interest rate unchanged at a record-low rate of 0.50% and size of asset bond purchases steady at 375 million pounds. Separately, government data showed a higher-than-expected jump in UK retail sales.
The Stoxx Europe 600 was little changed at 339.31 as of 04:30 a.m. ET. The losers were led by telecommunications shares falling by 0.60% loss, while utilities led the winners by 0.40% gain.
- DAX 30 was flat at 9,639.00
- FTSE 100 was down 0.15% at 6,791.50
- CAC 40 was down 0.23% at 4,441.92
Equities were dragged lower by BNP Paribas SA after a repot that US authorities are seeking to fine the French lender.
BNP Paribas SA fell 2.7% to 50.27 euros, after Bloomberg reported that US authorities are seeking more than $5 billion from the French bank as a settlement over its dealings with sanctioned countries.
News wires also reported that the French bank also face a temporary ban on transferring money in and out of the US.
The authorities are also looking for a guilty plea in the settlement, which would end their prove into the bank`s dealing in Iran, Sudan and other countries.
The world`s second-largest truck-maker Volvo AB fell 1.6% to 95.05 euros as the Swedish manufacturer posted an unexpected drop in deliveries of its trucks in April on weaker demand in South America.
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