European stocks marred by oil prices, Disney results

London - European stock markets fell on Wednesday after losses across most of Asia, with sentiment hit by weak oil prices and disappointing results from Disney.

Around 12:15, London's benchmark FTSE 100 index was down 0.2%, weighed also by official data showing that British industrial output grew weaker-than-expected in March.

In the eurozone, Frankfurt DAX 30 shed 0.7% and the Paris CAC 40 lost 1.0% compared with Tuesday's close.

World oil prices churned lower following recent gains, as Canadian oil companies prepare to restart output after being closed by huge wildfires.

European markets have been "roiled by a downturn in oil prices and tracking a downturn in US equity index futures after an earnings miss from Disney", said analyst Jasper Lawler, at traders CMC Markets.

Strong ticket sales from the latest "Star Wars" film and "Zootopia" helped modestly lift Disney's second-quarter profit, the US giant revealed overnight.

However, revenues from Walt Disney's closely watched cable television division fell, perturbing investors who have been worried about the prospects for its ESPN network as the traditional cable television model comes under assault.

"The box office hits have not proved enough to offset weaker results from its theme parks and cable TV business," added Lawler.

Asian equities tapered Wednesday after an early rally as nerves returned to trading floors, but Japan's Nikkei hammered out a slight gain.

The day started on a positive note as gains elsewhere - fuelled by upbeat Chinese inflation data and progress on Greece's debt relief - provided a healthy buying catalyst after last week's sell-offs.

Tokyo's Nikkei rallied as exporters were boosted by the weaker yen, but tempered its gains as the Japanese unit recovered.

"Asian markets were a mixed bag... This lack of commitment to upside has filtered its way to European markets which all trade lower," noted London Capital Group analyst Brenda Kelly.

Hong Kong was one percent down as mainland shares listed in the city were hit by fears China may not introduce any fresh stimulus for some time after a warning over debt levels by the government mouthpiece People's Daily.

Back in Europe, weaker oil prices weighed on the energy sector because they eat into revenues and profits of oil giants like BP, Royal Dutch Shell and Total.

In London, shares in BP sagged 0.4 percent and Shell was down 0.9%.

In Paris, the share price of French peer Total lost more than 1.0% in value.