Europe: Downbeat Swedish earnings, oil slide hurt European shares

[BENGALURU] European stock markets lost ground on Wednesday after three straight days of gains, with Swedish share prices hit by a slew of poor quarterly results and oil majors across the region reeling from this week's slide in oil prices.

"The fear is that if they are softening, what is it going to look like if we do get these interest rate cuts," said David Madden, market analyst at CMC Markets in Britain."The perception is that banks are going to be under pressure and that is going to spread out in the sector as a whole.

"There is a small bit of fear in relation to Mr Trump's comments. It showed that the trade deal was unresolved and encouraged profit taking," said Mr Madden.

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