Global Stocks Slip as Raft of Data Cautiously Awaited

A selloff in the mining sector kept stocks subdued Wednesday as investors remained cautious ahead of key readings on the U.S. and European economies.

The Stoxx Europe 600 dipped 0.2% in early trade, weighed by the basic resources sector. Shares in BHP Billiton were down 5.5% after Brazilian federal prosecutors filed a lawsuit against the Anglo-Australian miner as well as Vale SA and Samarco Mineraç ã o over a dam failure in November.

European bank shares, however, managed to eke out small gains after France's Socié té Gé né rale SA reported an increase in first-quarter net profit, sending shares of the lender up 3.4%.

Earlier, shares in Asia mostly ended lower, weighed by losses on Wall Street and recent declines in the oil price. Australia's S&P ASX 200 fell into negative territory for the year, while shares in Hong Kong ended down 1%. Shares in Shanghai were little changed, while markets in Japan were closed for a holiday.

Later Wednesday, investors will eye a raft of economic data including readings on the U.S. and eurozone services sectors, the U.S. trade balance, and a survey of U.S. private payrolls.

Write to Riva Gold at [e-mail]

(END) Dow Jones Newswires

May 04, 2016 04:15 ET (08:15 GMT)

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