Summary The European single currency edged up to 82.06 British pence from 82.04 pence.
LONDON (AFP) - Europe s main stock markets fell for a second day in a row on Wednesday, dragged down by the Ukraine-Russia crisis and by some poorly received economic and earnings data.
London s FTSE 100 dropped 0.38 percent to stand at 6,772.99 points in midday deals.
Frankfurt s DAX 30 dipped 0.10 percent to 9,458.08 points and the CAC 40 in Paris shed 0.11 percent to 4,423.08 compared with Tuesday s closing levels.
European equities had fallen on Tuesday, pulled down by downbeat earnings in the financial sector and the Ukraine crisis.
The euro steadied on Wednesday after a recent run higher amid improving confidence over the eurozone economy.
"European shares are trading lower (Wednesday)... pressured by ongoing concerns about further escalation of the crisis in the Ukraine, unexpectedly weak German factory data and worries that the Chinese economy will slow further," said Markus Huber, senior analyst at brokers Peregrine & Black.
"Furthermore not necessarily unexpected, (Danish brewer) Carlsberg and (French bank) Societe Generale both warned that their profits are being negatively impacted by events taking place in the Ukraine."
Western powers on Wednesday launched a drive for a diplomatic solution to stop Ukraine sliding into civil war, as fighting spread closer to the Russian border.
Nearly 90 people have died in less than a week in military operations or clashes between pro-Russians and supporters of Ukrainian unity.
The violence affected Asian stock markets, which closed lower on Wednesday with a stronger yen also sending Tokyo tumbling after a long weekend, while Tuesday s sell-off on Wall Street added to downward pressure.
Investors were awaiting the congressional testimony of US Federal Reserve head Janet Yellen later in the day for clues about the state of the US economy.
- Banks under pressure -
On the corporate front, shares in Societe Generale fell 1.48 percent to 43.23 euros after the group reported a sharp profits setback for the first quarter on a big fall in the value of its assets in Russia, its second-biggest market for high-street banking.
The bank wrote down the value of assets acquired in Russia by 525 million euros ($731 million), saying it had taken account of the fall of the value of the ruble, slowing growth of the economy, and a rise in the cost of risk, reflecting the crisis in Ukraine.
In London, HSBC was down 1.36 percent to 595.9 pence after the British bank said its net profit slid 18 percent in the first quarter as lower revenues offset cost-cutting, but added that bad debt charges fell.
On the upside, Siemens shares gained 1.36 percent to 95.19 euros after the German engineering group announced that it was acquiring the gas turbine and compressor business of engines-maker Rolls-Royce for 785 million ($1.33 billion, 957 million euros) to beef up its position in the growing oil and gas industry.
Meanwhile in the first quarter, Siemens net profit rose by 12 percent to 1.153 billion euros, it announced on Wednesday.
Rolls-Royce shares were down 1.44 percent to 1,024 pence.
In Paris, shares in industrial glass and materials group Saint-Gobain fell 3.46 percent to 42.15 euros after investment group Wendel said it had sold 4.3 percent of the equity at a loss.
The euro dipped to $1.3927 from $1.3929 late in New York on Tuesday.
The European single currency edged up to 82.06 British pence from 82.04 pence, while the pound stood at $1.6972, unchanged from the level late on Tuesday.
The price of gold rose to $1,312.83 an ounce on the London Bullion Market from $1,306.25 Tuesday.
