European stock markets down april 4 2012

European stock markets down april 4 2012 : Most European stock markets declined for a second day on Wednesday, as banks and miners weighed on sentiment, while investors looked toward an interest-rate decision from the European Central Bank due later in the day.

The Stoxx Europe 600 index XX:SXXP -0.69% gave up 0.6% to 262.73, adding to a 1.1% loss from Tuesday.

Banks were weighing most heavily on the index, with French banks posting some of the biggest losses. Société Générale SA FR:GLE -0.54% fell 3.2%, Credit Agricole SA FR:ACA -1.25% shed 3.3% and BNP Paribas SA FR:BNP -1.50% slipped 2.8%.

The French CAC 40 index FR:PX1 -1.05% tumbled 1.1% to 3,365.13, further pressured by car makers Peugeot SA FR:UG -2.84% , off 4%, and Renault SA FR:RNO -2.38% , down 2.7%.

In Germany, Volkswagen AG DE:VOW +0.99% fell 1.7%, while Daimler AG DE:DAI -1.02% slipped 1.6%. The DAX 30 index DX:DAX -1.36% traded 1.4% lower at 6,88.07.

Commerzbank AG DE:CBK -3.18% also weighed on sentiment and gave up 2.5%, while Deutsche Bank AG DE:DBK -0.82% fell 1.5%.

Losses for European equities tracked overnight losses in Asia and on Wall Street, where investors sold off stocks on the back of the U.S. Federal Reserve signaling less of a need to stimulate the economy with further quantitative easing.

In Europe, investors were awaiting an interest-rate announcement from the ECB, which is widely expected to leave its key lending rate unchanged at a record low 1%. ECB President Mario Draghi will host his monthly news conference following the rate announcement. Draghi, ECB to maintain wait-and-see stance

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