corporate earnings, economic data in focus

The pan-European Stoxx 0 was around 0.2% lower during afternoon deals, with sectors along with major bourses pointing in opposite directions.

Europe’s auto stocks were among the worst performers, down more than 1% after Nissan slashed its full-year profit forecast to a near-decade low. The Japanese automaker said Wednesday This particular at This particular point expects operating profit for the year ended March to drop 45% versus a year earlier to 318 billion yen ($2.84 billion) — in which’s down through a previous forecast of 450 billion yen. Fiat Chrysler along with Valeo slipped more than 1% on the news, while Renault was down more than 4%.

Meanwhile, technology stocks gained more than 3% after Japan’s Softbank Group said This particular would certainly buy a 5.6% stake in payments firm Wirecard for around 900 million euros ($1 billion). Shares of the Munich-based firm jumped 13%.

The sector was also lifted by the news in which the U.K. would certainly allow Chinese telecoms firm Huawei to participate in its 5G network despite warnings through the U.S. in which doing so could enable Chinese espionage.

Elsewhere, Credit Suisse reported an increase in first-quarter net profit on Wednesday, beating analyst expectations. Switzerland’s second-biggest bank reported a net income of 749 million Swiss francs ($733.93 million) for the first quarter of This particular year, an 8% increase year-on-year. However, shares of the lender edged into negative territory toward the end of the session.

France’s Biomerieux tumbled toward the bottom of the European index Wednesday morning. This particular comes after the Paris-listed stock reported a moderate growth rate over the first three months of the year along with confirmed its annual objectives. Shares of the company were down more than 7%.