This is CNBC's live blog covering European markets.
European stocks closed slightly lower Wednesday as regional markets struggle to find positive momentum.
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 8,387.37 | -36.83 | -0.44% |
| .GDAXI | DAX | 18,710.68 | -58.28 | -0.31% |
| .FCHI | CAC 40 Index | 8,139.13 | -56.84 | -0.69% |
| .FTMIB | FTSE MIB | 34,629.45 | -195.56 | -0.56% |
| .IBEX | IBEX 35 Idx | 11,367.80 | +28.30 | +0.25% |
The pan-European Stoxx 600 index provisionally ended down 0.2%, with major bourses mixed and most sectors in negative territory. Banks fell 1%, while autos rose 1.6%.
Shares of HSBC sank over 8% after reporting an 80% drop in pre-tax profits in the final three months of 2023 on the back of a $3 billion charge on its stake in a Chinese bank.
Meanwhile, shares of Swiss mining company Glencore fell 1% after the company posted a steep drop in annual profits and lowered its dividend.
Hong Kong stocks gained more than 3% as wider Asia-Pacific markets traded mixed overnight following Wall Street losses Wednesday, while investors assessed Japan's trade data and souring business sentiment among large manufacturers.
U.S. stocks on Wednesday fell after the major averages incurred a second day of losses, fueled by Nvidia's decline.
Shares of Swiss mining company Glencore fell more than 6% in morning trade after the company posted a steep drop in annual profits and lowered its dividend.
Waning volatility in the energy market weighed on the company's full-year earnings, which came in at $17.1 billion — half that recorded in the previous year, during the height of the energy crisis sparked by the Russia-Ukraine war.
— Karen Gilchrist
HSBC reported on Wednesday its full year 2023 pre-tax profit climbed about 78% to $30.3 billion from a year ago, missing median estimates of $34.06 billion from analysts tracked by LSEG.
Its Hong Kong shares reversed gains to dip more than 2%, compared against the 3% gains for the Hang Seng Index. The bank's shares have gained about 0.5% so far this year after jumping 23% in 2023 as the Hang Seng Index shed 14%.
It was last trading down 2.55%.
—Clement Tan, Lee Ying Shan
Mounting inflation and interest rates have put significant pressure on several sectors — especially real estate. But some market watchers think things could be about to turn around.
"I think it would be an opportune time to invest in real estate especially given that we are forecasting interest rates to decline over the next 12 months," says Kevin Brown, senior equities analyst at financial services firm Morningstar.
Brown, along with PGIM Real Estate's Rick Romano, reveal their top REITs to buy right now.
CNBC Pro subscribers can read more here.
— Amala Balakrishner
Dividend stocks often appeal to investors who want steady income and long-term growth.
Wall Street and other pros share their tips on how to pick good dividend stocks and what names will generate sustainable income.
Some of these names are projected to have higher yields than cash, according to BofA.
CNBC Pro subscribers can read more here.
— Weizhen Tan
European markets are expected to open lower Tuesday.
The U.K.'s FTSE 100 index is expected to open 43 points lower at 8,381, Germany's DAX down 60 points at 18,708, France's CAC 33 points lower at 8,139 and Italy's FTSE MIB down 140 points at 34,788, according to data from IG.
Earnings come from Kingfisher, Smiths Group, Fresnillo and Generali. Euro zone trade balance and construction data for March are due.
— Holly Ellyatt