European shares mostly go down

On Wednesday, European shares started mostly lower, following a new batch of corporate earnings reports and after Japan’s stimulus measures revealed on Tuesday disappointed financial markets.

During European morning trade, the EURO STOXX 50 went down 0.04%, French CAC 40 sagged 0.29%, while German DAX 30 decreased 0.15%.

Financial stocks mostly soared, as French lenders BNP Paribas along with Societe Generale earned 0.66% and 4.16% respectively, though German Deutsche Bank as well as Commerzbank lost 0.28% and 1.69% respectively.

Earlier Societe Generale posted an 8.1% surge during second-quarter net income compared to last year.

Among peripheral lenders, we should mentin Italian Intesa Sanpaolo and also Unicredit, which soared  0.29% and 0.98% respectively. At the same time Spanish banks BBVA as well as Banco Santander surged 0.71% and 0.66%.

Elsewhere, AXA SA slumped 0.43% after Europe's second-biggest insurer posted a 4% surge in first-half net revenue, which is below analysts’ expectations.

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