European Markets Finished With Mixed Results

(RTTNews) - The European markets ended Wednesday's session with mixed results. Mixed economic reports, concerns over Greece and uncertainty ahead of Thursday's British general election had an impact on investor sentiment. Eurozone retails sales declined by more than anticipated, while Eurozone private sector growth slowed slightly less than initially estimated.

Greece announced Wednesday that it has made a loan repayment of 200 million euros to the International Monetary Fund. However, the country must still repay 750 million euros to the IMF by May 12. Talks continue between Greece and its lenders over reforms. The European Central Bank's Governing Council is meeting in Frankfurt today to discuss emergency funding for Greek banks.

Federal Reserve Chair Janet Yellen stated this morning that "Equity market valuations at this point generally are quite high," and warned that "there are potential dangers there." Yellen made the comments at a joint appearance with International Monetary Fund Managing Director Christine Lagarde.

The Euro Stoxx 50 index of eurozone bluechip stocks increased by 0.37 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.51 percent.

The DAX of Germany climbed by 0.20 percent and the CAC 40 of France rose by 0.15 percent. The FTSE of the U.K. gained 0.09 percent, but the SMI of Switzerland finished lower by 1.50 percent.

In Frankfurt, Allianz increased by 2.19 percent. The insurer confirmed its full-year profit guidance after posting an 11 percent rise in net profit in the first three months of the year.

BMW dropped by 2.30 percent. The world's biggest maker of luxury cares beat market expectations with a 4 percent increase in quarterly profit on sharply higher sales. Volkswagen also decreased by 3.50 percent.

RWE climbed by 1.36 percent and E.ON added 0.81 percent.

In Paris, Alstom finished higher by 1.67 percent. The engineering giant posted a net loss, Group share, of 719 million euros for the full year, impacted by exceptional items, mainly the agreement with the U.S. Department of Justice and some asset write-offs in Russia.

Lender Societe Generale tumbled by 2.27 percent, after reporting a loss at its struggling Russian unit.

In London, Prudential fell by 0.99 percent, after reporting a 6 percent decline in new business profit for the first quarter.

Shares of HSBC Holdings advanced by 1.04 percent. The Asia-focused lender announced that its unit HSBC Trust Company will sell its U.K. probate services business to Simplify Channel for an undisclosed sum.

Imperial Tobacco gained 1.76 percent, after its profit for the first half of the year climbed.

Sage Group surged by 7.96 percent, after it reported results for the first half of the year and affirmed its 2015 guidance.

J. Sainsbury declined by 3.16 percent, despite its better than expected full year profit.

Eurozone retail sales declined in March for the first time in six months as both food and non-food product turnover decreased from February. Retail sales volume dropped 0.8 percent month-on-month in March, reversing a 0.1 percent rise in February, Eurostat reported Wednesday. This was the first decline since September and was larger than an expected drop of 0.7 percent.

Eurozone private sector growth slowed slightly less than initially estimated in April, final data from Markit Economics showed Wednesday. The composite output index fell slightly to 53.9 in April from 54 in March. The flash score was 53.5. The rate of expansion in economic output held broadly steady at March's 11-month high.

Germany's private sector growth weakened more than initially estimated in April, data from Markit revealed Wednesday. The composite output index fell to 54.1 in April from an eight-month high of 55.4. It was also below the flash score of 54.2. The latest index reading still indicates solid output growth.

The French private sector growth eased further in April but it slowed less than previously estimated, final data from Markit showed Wednesday. The composite output index fell to 50.6 in April from 51.5 in March. The reading signals a marginal growth rate. The flash score was 50.2.

The British services sector grew the most in eight months in April, led by marked gains in new business, which prompted firms to continue with robust pace of job creation, survey results from Markit Economics revealed Wednesday. The seasonally adjusted Markit/CIPS UK Services Purchasing Managers' Index for the services sector rose to 59.5 from 58.9 in March. Economists had expected a score of 58.5.

The services sector in China expanded at an accelerated pace in April, the latest survey from HSBC showed on Wednesday, with a PMI score of 52.9. That's up from 52.3 in March, and it moves further above the boom-or-bust score of 50 that separates expansion from contraction.

In another sign of sluggishness in the U.S. labor market, payroll processor ADP released a report Wednesday morning showing that private sector employment increased by much less than expected in the month of April.

ADP said employment in the private sector increased by 169,000 jobs in April compared to a downwardly revised increase of 175,000 jobs in March. Economists had expected private sector employment to climb by about 200,000 jobs compared to the addition of 189,000 jobs originally reported for the previous month.

Labor productivity in the U.S. showed another notable decrease in the first quarter of 2015, according to a report released by the Labor Department on Wednesday. The report said labor productivity fell by 1.9 percent in the first quarter following a 2.1 percent decrease in the fourth quarter. The continued drop in productivity matched economist estimates.

Meanwhile, the Labor Department said unit labor costs surged up by 5.0 percent in the first quarter after jumping by 4.2 percent in the fourth quarter. Economists had expected costs to increase by 4.5 percent.