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London - European equities were little changed, while commodity companies slipped amid declines in oil prices.
The Stoxx Europe 600 Index dropped 0.1% at 09:22, after its biggest rally in more than two weeks. Commodity and energy producers fell the most, with Glencore down 2.3% after reporting a plunge in first-half earnings.
European equities have struggled to push higher after a rebound of as much as 12% following the selloff in the Brexit vote aftermath. While the Stoxx 600 rose on Tuesday after eurozone data for the services and manufacturing industries had the best reading in seven months, concerns remain over the European Central Bank’s ability to spur growth amid political turmoil and a banking crisis in Italy.
At the same time, investors are awaiting a speech by Federal Reserve chair Janet Yellen on Friday for clues on the timing of the next US rate increase.
Among other stocks moving on corporate news, Thales SA, which makes missile-guidance systems, dropped 1.4% following reports about a data leak at supplier DCNS.
Sweden’s Svenska Cellulosa surged 10% after saying it will split into two listed companies spanning hygiene goods and forestry products. WPP gained 4.2% after the world’s largest advertising company posted better-than-expected first-half sales, benefiting from the weaker pound. H. Lundbeck added 3.7% after the Danish drugmaker raised its 2016 sales and earnings forecasts.
