European Shares Fall on Lower Mining Sector

European shares fell on Wednesday, with mining stocks leading losses after concerns about Chinese government intervention impacting metal prices, while mixed corporate earnings data kept investors on the alert.

The pan-European Stoxx 600 index fell 0.2 percent but settled just below its August high. Asian technology stocks fell on an increase in the yield on short-term US Treasuries and fresh regulatory concerns in China.

The European mining sector index was the most declining, down 1.4 percent, affected by the decline in Chinese steel futures contracts, as well as the decline in raw materials prices after the government’s intervention to calm commodity prices.

Deutsche Bank fell 2.9 percent despite reporting better-than-expected quarterly profit, while Sweden-listed Kindred Group, which operates online gambling services, plunged 12.7 percent to be the most declining on the Stoxx 600 index after announcing quarterly results. .