European Stocks Lower Despite Upbeat UK Data

(RTTNews) - European stocks were slightly lower Wednesday amid consternation about the upcoming Federal Reserve minutes.

Semiconductor company ASML along with most tech shares and brewer Carlsberg were particularly hard hit.

UK shares fell for a second day, having snapped a long winning streak in the previous session.

Mining stocks remained weak after yesterday's disappointing earnings from global giant BHP Billiton.

Approaching the final bell, Germany's DAX lost 1.2 percent, the UKs FTSE fell 0.40 percent, while the CAC of France lost 0.8 percent.

Traders were cautious ahead of the minutes of the most recent Federal Reserve meeting.

Analysts expect the minutes to reveal some discussion of when to raise interest rates.

Admiral Group shares slumped badly in London. The British car insurance provider said its solvency position had dropped 20 percent in the first half because of market volatility around Britain's vote to leave the European Union.

Mining and commodities giant Glencore was lower. The Bloomberg reported that EMR Capital Advisors Pty, a natural resources private equity firm, is in late-stage talks to acquire its copper mine in Australia after other bidders dropped out of the process.

In economic news, the U.K. job market remained steady in the immediate aftermath of Brexit vote.

While the number of people claiming unemployment benefits unexpectedly fell by 8,600 in July from the previous month, the headline unemployment rate held steady at 4.9 percent, the lowest level in more than 10 years.