Miners, mixed earnings drag down European stocks
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Oct 27 (Reuters) - European stocks slipped on Wednesday, with miners in the lead after concerns about Chinese intervention hit metal prices, while mixed corporate earnings reports kept investors on edge.
The pan-European STOXX 600 fell 0.2% but held just below its record high hit in August. Asian tech stocks slid on the back of a spike in short-term U.S. Treasury yields and new regulatory concerns in China.
European miners fell the most with a 1.4% drop, as Chinese steel futures declined with raw material prices plunging amid government intervention to cool commodity prices.
Deutsche Bank slid 2.9% despite posting a better-than-expected quarterly profit, while Swedish-listed online gambling operator Kindred Group slumped 12.7% to the bottom of STOXX 600 after quarterly results.
Meanwhile, electrical equipment maker Schneider Electric jumped 3.1% after it reported a better-than-expected quarterly revenue growth.
Swiss software specialist Temenos surged 14.1% after a report that buyout firm EQT AB was in the early stages of considering a bid for the firm.
(Reporting by Anisha Sircar in Bengaluru; Editing by Subhranshu Sahu)
