European stocks closed slightly lower Wednesday as regional markets struggle to find positive momentum.
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.
