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European Shares Mixed Ahead Of Fed Minutes

stockmarkets dec12 22may19 lt

European stocks were trading mixed on Wednesday as global trade tensions mounted and investors looked ahead to the release of FOMC meeting minutes for direction.

Investors fretted about a protracted U.S.-China trade war after the New York Times reported that the Trump administration is considering placing limits to Chinese video surveillance firm Hikvision's ability to buy U.S. technology.

Ahead of the release of the latest FOMC meeting minutes, Federal Reserve Bank of St. Louis President James Bullard said that there is a case for lowering interest rates if inflation doesn't appear on track to rise back to desired levels.

The pan European Stoxx 600 was virtually unchanged at 379.52 after rising half a percent in the previous session.

The German DAX was rising 0.2 percent and the U.K.'s FTSE 100 was climbing 0.6 percent while France's CAC 40 index was marginally lower.

Commerzbank fell nearly 1 percent on eve of its AGM being held today after the collapse of merger talks with Deutsche Bank.

Daimler declined half a percent. The German automaker said that its shareholders will vote on a new Group structure with the transformation of the automotive divisions into legally independent entities and Daimler AG as the parent company.

British retailer Marks & Spencer tumbled 4.2 percent after it reported a 10 percent fall in full-year profit, marking a third straight decline.

Royal Mail jumped more than 5 percent after announcing it would introduce a second daily delivery of parcels, to be fully operational by 2023.

Online trading major IG Group Holdings soared nearly 13 percent as it unveiled a plan to drive growth.

In economic releases, U.K. consumer price inflation accelerated in April, while output price inflation eased slightly, figures from the Office for National Statistics revealed.

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