European stocks end mixed, Greek banks tank
European markets ended mixed on Wednesday after seesawing for much of the session, with indexes pressured by a staggering slump in Greek banking stocks.
The U.K.'s FTSE 100 benchmark closed provisionally flat, with France's CAC 40 down 0.6 percent and Germany's DAX unofficially up 0.6 percent.
Greece's Athens Composite index closed more than 9 percent lower, with its four main banks—Bank of Piraeus, Alpha Bank, National Bank of Greece and Eurobank—all ending more than 25 percent lower. This follows the victory of the far-left Syriza party in Greece on Sunday, which has raised fears of a sovereign default that could hit Greek banks hard.
European markets
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 8,445.80 | +17.67 | +0.21% |
| .GDAXI | DAX | 18,869.36 | +152.94 | +0.82% |
| .FCHI | CAC 40 Index | 8,239.99 | +14.19 | +0.17% |
| .FTMIB | FTSE MIB | 35,366.20 | +214.78 | +0.61% |
| .IBEX | IBEX 35 Idx | 11,362.80 | +123.50 | +1.10% |
Mining stocks outperformed on Wednesday, with Anglo American closing up around 2.3 percent after it reported that it had met production targets for the last quarter.
However, Europe's top-performing stock was Electrolux. Its shares hit a record high and closed around 12 percent higher after the home appliance maker posted a slightly-better-than-expected rise in core earnings for its fourth quarter.
Another strong performer was Nordea, whose shares closed around 8.8 percent higher after the lender reported a profit rise and upped its dividend for the year.
Away from individual stock news, a forward-looking German consumer confidence survey hit a 13-year high for February, GfK reported on Wednesday morning.
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