Miners, mixed earnings drag down European stocks

European stocks slipped on Wednesday, with miners in the lead after concerns about Chinese intervention hit metal prices, while mixed corporate earnings reports kept investors on edge. The pan-European STOXX 600 fell 0.2% but held just below its record high hit in August.

European stocks slipped on Wednesday, with miners in the lead after concerns about Chinese intervention hit metal prices, while mixed corporate earnings reports kept investors on edge.

The pan-European STOXX 600 fell 0.2% but held just below its record high hit in August. Asian tech stocks slid on the back of a spike in short-term U.S. Treasury yields and new regulatory concerns in China. European miners fell the most with a 1.4% drop, as Chinese steel futures declined with raw material prices plunging amid government intervention to cool commodity prices.

Deutsche Bank slid 2.9% despite posting a better-than-expected quarterly profit, while Swedish-listed online gambling operator Kindred Group slumped 12.7% to the bottom of STOXX 600 after quarterly results. Meanwhile, electrical equipment maker Schneider Electric jumped 3.1% after it reported a better-than-expected quarterly revenue growth.

Swiss software specialist Temenos surged 14.1% after a report that buyout firm EQT AB was in the early stages of considering a bid for the firm.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)