Europe seen lower despite Asia gains – CNBC

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Overseas, Asia markets came under pressure in later trade, dragged lower by an under-performance in Chinese mainland markets. The Shanghai composite was down over 2 percent, while the Shenzhen composite fell over 4.4 percent.

In oil markets, crude futures fell back into the red on Wednesday after oil workers in Kuwait finished their three-day strike, which had seen a cut in production from the Middle Eastern country. Data from the American Petroleum Institute (API) also weighed on the market, as it revealed U.S. crude stockpiles had risen by 3.1 million barrels last week.

Oil prices fell more than 2 percent in early trade, with Brent currently just above $43, and U.S. crude hovering around $40. The renewed slip weighed on the oil and gas sector, with Tullow Oil and Total in negative territory.

Some metal prices also came under pressure during early trade, however, Antofagasta, Rio Tinto and BHP Billiton were all posting strong gains, after Investec raised its target price on each of the stocks.

Europe seen lower despite Asia gains – CNBC}