LONDON — European markets closed lower on Wednesday as investors reacted to the latest earnings from regional banks and U.S. tech companies.
The pan-European Stoxx 600 ended down 0.6%, with most sectors and major bourses in negative territory.
Tech stocks slipped around 2.5% to lead losses, while travel and leisure stocks fell 0.9% after low-cost airline Easyjet reported higher profit and forecast a second straight record-breaking summer.
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WATCH HEREDeutsche Bank, UniCredit, BNP Paribas and Banco Santander were among the European banks reporting earnings on Wednesday, alongside Iberdrola and Orange.
Deutsche Bank shares provisionally closed more than 8% lower as it snapped a 15-quarter profit streak, while shares of luxury group LVMH fell 4.7% after the company reported a second-quarter revenue miss late on Tuesday.
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SIGN UP On the data front, flash purchasing managers' index data showed business activity stalled in the euro zone in July, while it picked up in the U.K. thanks to strong manufacturing growth. Meantime, German consumer confidence was seen increasing, according to fresh data.
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On Wall Street, U.S. stocks fell after mega-cap tech companies Alphabet and Tesla reported their second-quarter results on Tuesday.
Google parent company Alphabet's revenue and earnings results were in line with analyst estimates, but the the company missed on YouTube advertising revenue. Tesla reported weaker-than-expected results as auto revenue dropped 7% year over year.
Asia-Pacific markets fell Wednesday as traders considered earnings and the latest business activity from across the region.
