Europe Stocks Open Lower On U.S. Fiscal Woes

European stock markets opened lower on Wednesday, led by resource and banking stocks, with sentiment weighed by concerns over U.S. fiscal cliff negotiations.

Wall Street stocks closed with losses on Tuesday after Senate Majority Leader Harry Reid said only small progress had been made in those talks. The Stoxx Europe 600 index fell 0.2% to 272.23, with Deutsche Bank AG down 1.2%. The French CAC 40 index was flat at 3,498.99, while the FTSE 100 index fell 0.2% to 5,786.56. Shares of United Utilities PLC rose 2% after upbeat results.

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