IBEX 35

European stocks opened trading lower as investors in the region weighed political uncertainty in France following Sunday’s election result.

Spanish hotel chain Melia Hotels International seeks to further expand its portfolio in Greece and has reached a franchise agreement with its fifth hotel in the country.

H&M said Wednesday its net profit more than doubled in the first quarter as the world's second biggest fashion retailer worked to control costs.

The Swedish company reported a profit-after-tax of 1.2 billion kronor ($113.3 million) in the December-to-February period.

Ikos Resorts is in advanced negotiations to acquire two hotel properties from multinational group Hoteles Playa, which will be its third complex in Spain.

The Spanish bank that owns a 49.85 percent share in Garanti BBVA launched a voluntary takeover bid yesterday for the rest of the stakes in the Turkish lender at a price of 12.20 Turkish Liras ($1.22) per share.

2 400 companies have left the Spanish region of Catalonia since the independence referendum to date, Bloomberg reports, citing data from the local company register.

Catalonia's powerful business leaders are starting to lose their patience with an increasingly bitter tussle over an independence referendum deemed illegal by Madrid.

By Cecile Vannucci

Equity markets in Spain and Greece fell, while European stocks were little changed as holidays across the region curbed trading volume.

By Sofia Horta e Costa

European stocks advanced following their longest weekly losing streak since October.