European stocks slipped and U.S. equity were flat on Wednesday, as investors kept close watch on U.S. Treasury yields that hovered at year highs. Shares of Kering and British American Tobacco led decliners after reporting results.
Oil prices remained elevated on Wednesday, with U.S. crude CL.1, +0.78% above $60 a barrel and Brent BRN00, +1.01% atop $63 a barrel, but natural-gas prices NG00, -2.30% were easing somewhat. Shares of energy companies rose, with Total TOT, +3.23% FP, +2.14% up 1.2% and BP BP, +5.80% BP, +1.55% and Royal Dutch Shell RDS.A, +4.26% RDSA, +1.04% up by nearly 1% each.
Data showed U.K. consumer prices rose 0.7% on the year in January, versus a 0.6% rise a month earlier, the Office for National Statistics said Wednesday. That number is still under the Bank of England’s 2% goal. British American Tobacco BATS, -3.42% BTI, +1.71% shares tumbled 4%, after the tobacco group reported higher 2020 profit, but said the COVID-19 pandemic would continue to weigh this year. The company also disappointed some analysts with its outlook.