European stocks turn cautious amid a calm session

The stocks on the European bourses paused previous rally and turned lower from six-week highs reached a day before, largely tracking the softer close on its Asian counterpart.

Moreover, renewed selling in the oil prices negatively affected the energy and resource stocks, also dragging the region’s indices into the red zone.

Further, amid a lack of fresh fundamental drivers, the markets digested latest corporate earnings results, which also dampened the investors’ sentiment. German utility company E.ON posted a first-half loss of €3.03 billion, mainly due to huge impairment charges. Shares of the company slipped around 4%. The UK bookmaker William Hill dipped over 1.55% after the company rejected the take-over bid as it undervalues the company.

Currently, Germany's DAX 30 index trades -0.27% lower at 10,664 while the UK's FTSE index trades modestly flat at 6,850. Among other European indices, the French CAC 40 index loses -0.17% to 4,460, while the pan-European Euro Stoxx 50 index trades -0.06% lower around 3030 levels.