By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- European stock markets staged
broad-based losses on Wednesday as increasing risks of a civil war
in Ukraine hit investing sentiment.
The Stoxx Europe 600 index fell 0.3% to 334.91, setting it on
track for a fourth straight day in red.
Posting one of the biggest losses in the pan-European index,
shares of CGG slid 7.9% after the French geoscience firm posted a
decline in first-quarter revenue.
Shares of Commerzbank AG gave up 2.7% after the German lender
reported first-quarter profit below analyst expectations.
Carlsberg AS slipped 0.5% after the Danish brewer cut its
full-year guidance due to the political turmoil in Russia, which is
its single largest market.
More broadly, Russia's standoff with Ukraine was weighing on the
trading mood in Europe. U.S. Secretary of State John Kerry on
Tuesday urged Russia not to sabotage upcoming presidential
elections in Ukraine, warning such an act could be met with further
economic sanctions.
"We are not going to sit idly by while Russian elements fan the
flames of instability, instead of fulfilling the commitments that
we made," he said in Washington after meeting with the European
Union's foreign policy chief, Catherine Ashton.
Also on Tuesday, German foreign minister Frank-Walter Steinmeier
and French President François Hollande warned Ukraine is close to a
civil war after intense fighting in the eastern part of the country
earlier in the week.
Russian stocks shook off the uncertainty in Wednesday's trade,
with the MICEX index rising 1.1% to 1,333.10. The blue-chip index
is still down 11% year-to-date, making it one of worst performing
benchmarks in Europe. The ruble (USDRUB) fell against the dollar,
with the greenback buying 35.5073 rubles, up 0.2% from Tuesday
according to FactSet. Read: Jim O'Neill: short the euro, watch
Apple, sell in May
Among other country-specific indexes, the U.K.'s FTSE 100 index
fell 0.3% to 6,775.99, while France's CAC 40 index gave up 0.2% to
4,419.46. Germany's DAX 30 index was slightly lower at
9,463.60.
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