European Markets Finish With Heavy Losses

(RTTNews) - The major European markets opened lower on Wednesday and continued to sink as the day progressed, ending near session lows.

The markets were subdued as investors looked ahead to the release of Federal Reserve's December meeting minutes later in the day to gauge the rate hike trajectory, which some analysts now suggest may have been too optimistic.

Germany's DAX stumbled 230.97 points or 1.38 percent to finish at 16,538.39, while the FTSE in London sank 39.19 points or 0.51 percent to close at 7,682.33 and the CAC 40 in France plunged 119.00 points or 1.58 percent to end at 7,411.86.

In Germany, Siemens Energy plummeted 6.39 percent, while Infineon Technologies plunged 3.82 percent, Zalando tanked 3.58 percent, BASF tumbled 2.67 percent, Vonovia retreated 2.14 percent, Deutsche Bank slumped 1.86 percent, Volkswagen declined 1.79 percent, Deutsche Telekom rallied 1.46 percent, Deutsche Borse dropped 1.33 percent and Bayer rose 0.23 percent.

In London, Rentokil stumbled 4.95 percent, while Antofagasta skidded 3.57 percent, Centrica surged 3.15 percent, Scottish Mortgage shed 2.99 percent, Prudential sank 2.94 percent, BAE Systems jumped 1.61 percent, Tesco rallied 1.60 percent, Haleon improved 1.22 percent, Rolls-Royce lost 1.11 percent, Rightmove fell 0.72 percent, Shell added 0.68 percent, SSE slid 0.44 percent, Vodafone dipped 0.36 percent and British American Tobacco perked 0.06 percent.

In France, Worldline plunged 6.66 percent, while Atos tumbled 5.75 percent, Societe Generale retreated 2,74 percent, BNP Paribas surrendered 2.67 percent, Danone climbed 1.66 percent, Orange advanced 1.22 percent, Sanofi gained 1.20 percent, Credit Agricole stumbled 0.86 percent, Engie shed 0.69 percent, Veolia Environment dipped 0.46 percent and Vivendi was down 0.23 percent.

In economic news, Germany's employment increased less than expected at the end of the year, official data revealed on Wednesday. Unemployment rose only 5,000 in December compared to an increase of 21,000 in November and 29,000 in October, the Federal Labor Agency reported. Economists had forecast a monthly rise of 20,000 for December.