2018.01.1721:04:00UTC+00European Stocks Drop, Pulled Down by Corporate Earnings

European markets closed under pressure on Wednesday as corporate news prevailed in discussion.

The pan-European Stoxx 600 provisionally fell 0.1 percent by the end, off its session lows. Britain's FTSE 100 dropped 0.39 percent, while France's CAC 40 lost 0.36 percent and Germany's DAX was down 0.47 percent. Peripheral markets closed in different directions.

Media was one of the worst-performing industries, losing 0.6 percent, weighed down by Informa and Pearson. Shares of Pearson tumbled 4.65 percent after the publisher reported a two percent decline in revenue in the first nine months of its fiscal year.

Telecoms plunged 0.8 percent as a sector, with most stocks closing in negative territory.

Technology ended on a positive note, boosted by ASML, which climbed five percent, after posting better-than-expected results.

Weak trading updates in Britain also led to some large share price moves.

Luxury fashion brand Burberry was among the top decliners after a disappointing trading update. The U.K. fashion house dropped 9.3 percent, after posting lower sales in the third quarter.

Britain's Informa fell 5.7 percent after it made a paper and cash offer to buy UK events organiser UBM, which jumped 12 percent.

Contractor Interserve slumped nearly 15 percent early in the session after the Financial Times reported that British ministers are “very worried” and have set up a team of officials to monitor the company following the collapse of competitor Carillion.

At the top of Europe's benchmark, Rolls Royce jumped 5.4 percent after the manufacturer announced that it would evaluate the strategic options of its commercial marine businesses, a division that has suffered due to weak demand in the offshore oil and gas markets.

Despite Wednesday's decline, the STOXX remains close to a 2-½ year peak notched early this month.