European equity benchmarks reversed early gains to finish lower on Wednesday, as investors turned cautious amid no sign of a deal among Greek leaders on new austerity measures to secure more international aid.
The Stoxx Europe 600 index lost 0.2% to close at 263.01, after trading as high as 265.24 earlier in the session.
The DAX 30 index settled 0.1% lower at 6,748.76 while the CAC 40 index fell 0.1% to 3,410.00. The FTSE 100 index dropped 0.2% to end at 5,875.93. The Italian FTSE MIB index climbed 1.1% to 16,669.22.
European stocks pared earlier gains as a final deal on spending cuts was yet to be agreed upon by market close. A deal on additional austerity measures was reportedly done Tuesday night, but a meeting of party leaders was pushed back to Wednesday.
BHP Billiton lost after reporting a 5.5% decrease in first-half profit due to rising costs, production disruptions and falling commodity prices.
Reckitt Benckiser Group shares gained after reporting a 26% profit increase for the fourth quarter.
Shares of Vestas Wind Systems A/S sank after reporting a loss for 2011 and indicated it may not be profitable in 2012 either. The world’s largest wind-turbine manufacturer’s shares have slumped 67% in the past 12 months.