Political uncertainty hounds European markets; Ubisoft weighs

All major bourses were trading in negative territory and pan-European Stoxx 600 was trading down 0.26 percent in mid-morning deals.

Autos disappointed the investors on Wednesday by performing below expectation. The Reuters report on the commencement of legal action against Italy for not policing allegations of emission test cheating by car maker dragged  Fiat Chrysler 's stock by 1.4 per cent. The global entertainment giant, Ubisoft Entertainment recorded a jump in profit in the first three months of the year after the witnessing less severe write-downs from the expected. Weak projection of future earnings sends the company's stock down to the bottom. The shares were down by 3.4 percent.

Tullow Oil encountered 75 meters of net oil pay in two zones in Kenya, pushed the company's shares at the top of the benchmark.

Apart from this in the mid-morning trade, the ThyssenKrupp jumped 3.9 percent. By ducking the predictions of the market experts Austrian lender Raiffeisen Bank International charted a robust jump in the net profit. 

The constant topsy-turvy in the Trump led government bogged down the investors and punctured the growth of the dollar and diverted the attention of the investors towards Yen, gold, and treasuries. Though the real wage growth was negative but the UK data showed a hike of 2.1 percent in wages. The inflation in Eurozone touched 1.9 percent in April.