European Markets Finished Mostly Lower After 5 Days Of Gains

(RTTNews) - The majority of the European markets ended Wednesday's session in the red, snapping a 5-session winning streak. Investors took the opportunity to lock in some profits after the recent run up in equities. Mixed earnings results, weakness in crude oil prices and disappointing industrial output data from France also dampened the mood among investors.

The results of the EU referendum would have a negative effect on capital spending, hiring and turnover over the coming year, the Agents' summary of business conditions published by the Bank of England showed Wednesday.

Data showed that consumer spending growth eased further with seasonal weather likely to have been a significant factor. Consumer caution had increased prior to and since the referendum.

The pan-European Stoxx Europe 600 index dipped 0.35 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.35 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.47 percent.

The DAX of Germany dropped 0.39 percent and the CAC 40 of France fell 0.36 percent. The FTSE 100 of the U.K. gained 0.22 percent, but the SMI of Switzerland finished lower by 0.25 percent.

In Frankfurt, utility E.ON sank 5.61 percent after it swung to a first-half net loss in the wake of an impairment charge for its conventional power unit Uniper.

Steel maker Salzgitter dropped 6.33 percent after reporting a sharp decline in its first-half profit.

Airline Air Berlin declined 4.96 percent after posting a wider loss in the second quarter of 2016.

In London, insurer Prudential jumped 2.26 percent after its first-half operating profit topped estimates.

G4S shares soared 16.10 percent. The security giant maintained its dividend after reporting a jump in first-half earnings and revenue.

Entertainment One surged 9.38 percent after it rejected a takeover bid from ITV. Shares of ITV also finished up by 0.91 percent.

Smith & Nephew fell 1.02 percent after Barclays downgraded its rating on the stock to "Equal weight" from "Overweight."

Rolls-Royce increased 4.39 percent after Morgan Stanley upgraded the stock to "Equal weight" from "Underweight."

Gold miner Centamin rose 1.46 percent after upgrading its production guidance for 2016.

Staffing giant Adecco Group advanced 2.47 percent in Zurich after reporting a 7 percent rise in second-quarter net profit.

Biotechnology firm Novozymes plunged 11.81 percent in Copenhagen after posting weaker than expected second-quarter results and slashing its annual sales outlook.

Ageas SA climbed 5.02 percent in Brussels after unveiling a new share buyback program.

French industrial production decreased for the second straight month in June due to the weakness in both manufacturing and construction, the statistical office Insee showed Wednesday. Industrial output fell 0.8 percent in June from May, when it dropped 0.5 percent. This was the biggest decline in four months and came in contrast to a 0.1 percent expected increase.