European shares opened lower, with shares of Barclays and Craing falling

European stocks opened lower on Wednesday, with British bank Barclays falling after it reported disappointing earnings and French luxury group Kering falling after revenue from its Gucci brand slumped.

The Stoxx Europe 600 index fell 0.3 percent, while Barclays fell 8.1 percent to the bottom of the index.

The banking stock index fell 1.1 percent after the British bank revealed that its annual profits fell 14 percent.

Shares of French company Kering tumbled 2.7 percent after its sales fell 7 percent in the fourth quarter, affected by the decline in revenues at its largest brand, Gucci, affected by the restrictions related to Covid-19 in China.