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Market Update

European Markets Trade Down

European markets were opened lower Wednesday with investors cautious after a largely disappointing earnings season and ahead of the minutes from the Bank of England’s last policy meeting due later in the day.

The FTSE was down 0.4%. The CAC 40 Paris declined 0.3% while the German DAX edged 0.2% lower.

Data earlier in the day showed German’s producer price index fell unexpectedly last month.

Stocks on the Move

Barclays PLC was up half a percent. Reuters reported citing unnamed sources that the bank is exploring options for its index business after MSCI approached the British bank recently about buying the unit.

Diageo PLC fell 1.2% after its CEO said Tuesday the company doesn’t need to buy rival Beam.

L'Oreal SA was marginally lower after it said its mail order unit plans to cease activity in the first half of the next year after a "structural weakening" of the mail order business model.

In Frankfurt, Deutsche Bank was off 0.3%.