European stocks closed lower on Wednesday, with the Stoxx Europe 600 index dropping by 1.13% to 467.71. The FTSE 100 index fell by 1.48% to 7,446.29, the French CAC 40 index dropped by 1.07% to 7,318.69, and the German DAX fell by 0.84% to 16,431.69.

Biggest Losers of the Day

Among the constituents of the Stoxx Europe 600, Viaplay Group AB Series B saw the largest drop on Wednesday, with shares falling by 8.6%. Shares of Forvia SE and Ocado Group PLC fell by 6.9% and 6.2% respectively. Kone Oyj B, a machinery company, and Ubisoft Entertainment S.A., a business company, rounded out the top five largest decreases, with their stocks dropping by 5.9% and 5.7% respectively.

Largest Increase

MorphoSys AG, a health care/life sciences company, saw the largest increase among the Stoxx Europe 600 constituents, with shares gaining 7.8% on Wednesday. Shares of Atos SE, a business/consumer services firm, and IMI PLC, an industrial goods company, increased by 5.0% and 3.7% respectively. BE Semiconductor Industries N.V., a technology company, and Proximus, a telephone systems company, rounded out the top five largest increases, with their stocks gaining 3.6% and 3.2% respectively.

Currency and Commodity Update

The pound was up 0.22% against the dollar, while the euro was down 0.17%. Brent crude declined by 1.32% to $77.26.

Yield on Bonds

The yield on the 10-year gilt rose by 18.51 basis points to 3.986%, while the yield on the German 10-year bund increased by 5.660 basis points to 2.32%.

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