European stocks weaker, earnings results weigh

The sentiment on the European markets deteriorated further on Wednesday, after both the Asian and Wall Street stocks closed in the red.

While investors digest a fresh batch corporate earnings reports ahead of the FOMC minutes due to be published later today. Shares of Ericsson were among the main laggards today, dragging the index sharply lower. Its shares slumped -0.18% after the company issued a profit-warning.

Besides, its Finnish rival Nokia Oyj dropped 6%. BASF SE rose 1.7% after the world’s largest chemical maker posted a smaller-than-expected decline in quarterly profit. However, losses remain restricted amid higher oil prices, which lent some support to the resource and energy sector stocks.

Meanwhile, Germany's DAX 30 index drops -0.09% to 10,570, while the UK's FTSE 100 index drops -0.44% to, 7,040. Among the other indices, the French CAC 40 index declines -0.18% to 4,463, while the pan-European Euro Stoxx 50 index trades modestly flat around 3,020.