EU STOCKS down ahead of Fed news

European stock markets moved lower on Wednesday as investors awaited the latest word from the U.S. Federal Reserve, with minutes from its latest policy-setting meeting and a speech from Chairman Ben Bernanke on tap.

The Stoxx Europe 600 Index retreated 0.3% to 293.66.

Germany’s DAX 30 index  was slightly lower at 8,055.57. Shares of K+S AG  dropped 3.4% after UBS cut the potash maker to sell from neutral.

The FTSE 100 index  lost 0.3% to 6,494.01, after closing at the highest level since June 4 on Tuesday.

Shares of Burberry Group PLC  jumped 4.5% after the luxury-goods firm reported first-quarter sales that beat expectations.

Danish insurance firm Tryg AS  added 1.7% after reporting a smaller-than-expected drop in second-quarter profit.

Shares of Software AG  picked up 5.5% after Morgan Stanley lifted the firm to equal weight from underweight.

Also in the spotlight on Wednesday, China’s trade data disappointed, as exports unexpectedly fell in June from a year earlier, marking the first year-over-year drop for exports since January 2012.

Italian stocks were also under selling pressure after Standard & Poor’s lowered the country’s sovereign debt rating to BBB late Tuesday, to reflect softening economic conditions. The FTSE MIB index  traded 0.5% lower at 15,710.15.

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