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European stocks were in the red on Wednesday as a rally driven by a Chinese stimulus package ran out of steam, while a slide in technology and oil stocks added to the losses..
The pan-European STOXX 600 index fell 0.13 percent after rising nearly 1 percent in the previous session..
The German DAX index also fell by 0.41%, the British Financial Times by 0.03%, and the Italian FTSE by 0.08%.%.
In Asia, Chinese stocks continued their economic stimulus-fueled rally for the second day in a row, but other markets were volatile and mixed..
Shares in Germany’s SAP fell 3.5 percent after a report that the software developer is under investigation in the United States over suspicions of price fixing. The stock was the biggest drag on the index, also pulling the technology sub-index down 0.8 percent..
The oil and gas sector led the decline in the sub-sectors, down 0.9 percent, on concerns that China’s stimulus plans are not enough to boost demand..
France’s CAC 40 index fell 0.5 percent after rising more than 1 percent in the previous session. Data showed that consumer confidence in the country rose in September..
Official data showed that Sweden’s producer price index rose 0.6 percent in August compared with July. The market index there was stable..
Finnish engineering firm Valmet jumped 9.2 percent after it won an order worth more than 1 billion euros in Brazil..
