European Stocks Slip From Three-month High

By Markets MarketWatch Pulse

European stock markets dropped on Wednesday as oil prices headed lower after Kuwaiti oil workers ended a three-day strike. The Stoxx Europe 600 index dropped 0.5% to 347.68, falling back from a three-month closing high hit on Tuesday. Sentiment was soured by amore than 2% drop in both WTI crude oil and Brent , which weighed on Europe's energy majors. Shares of BP PLC fell 1.2%, while TGS-NOPEC Geophysical Company ASA dropped 2.7%. On a more upbeat note in Europe, ARM Holdings PLC put on 2.6% after the chip designer said profit rose 7.6% in the first quarter. Heineken NV gained 0.8% after the brewer reported a rise in beer volumes for the first quarter, thanks to strong sales in Vietnam and China.

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