European markets ended the day mixed on Wednesday ahead of the Bank of England's interest rate decision tomorrow. Economists are anticipating the central bank will cut the key interest rate to 0.25 basis points.
The rate has been at 0.5% since March 2009. The pound fell 0.2% against the dollar to $1.3330 throughout the day.
Markit Economics' updated composite purchasing managers' index for the eurozone came in at 53.2 in July, above the 52.9 "flash" estimate of July 22, and higher than the 53.1 reading in June. The survey adds to recent evidence the eurozone economy is holding up well after the U.K.'s vote to leave the European Union, though Markit pegged the result on German growth.
The euro fell 0.48% against the dollar to $1.1170.
In London, the FTSE 100 ended the day 0.73% down at 6,645.4.
In Paris, the Cac 40 was 0.16% down at 4,321.0 and the Dax ended the day up at 10,170.21, 0.26% up in Frankfurt.
After a series of more robust earnings today, European bank stocks rebounded.
In London HSBC (HSBC) ended the day 4.47% up in London as news of a $2.5 billion buyback and an increase in the first-half dividend offset the impact of a worse-than-expected first-half profit decline. On a conference call the bank's CFO said it was also considering a second payout to shareholders if it is allowed to draw a dividend from its U.S. operations.
In Paris Societe Generale was up about 3.16% after beating quarterly profit expectations on lower provisions for bad loans.
Monte dei Paschi was up 1.81% today after double-digit losses yesterday.
UniCredit (UNCFF) lost 2.28% after it beat expectations for second-quarter earnings on Wednesday and announced the sale of its card processing business to Italian payment processor SIA for €500 million ($560 million) in cash.
The group announced net profit of €916 million for the second quarter, ahead of the company-compiled consensus estimate of €664 million, and the highest estimate UniCredit gathered of €857 million.
Standard Chartered gained 6.43%, as the bank stemmed a decline in revenue in the second quarter and took fewer write-offs on bad loans than expected.
Royal Bank of Scotland (RBS) was up 2.59% in London.