UBS fell the most in six months after the biggest Swiss bank reported a third straight decline in quarterly profit. UBS sank 2.7%. Shares in UBS competitor Credit Suisse lost 2.4%, also in Switzerland.

Sanofi-Aventis shares also lost ground. The first-quarter sales of the company grew 2% to 7.12 billion euros, or up 7% on a comparable basis; slightly lower than analyst estimates. Combined with lack of news on the status of a U.S. review of its weight-loss drug, Acomplia, Sanofi shares slipped 1.3%.

Commodities

Crude oil advanced after rebels attacked an oil facility for the third time this week in Nigeria, where unrest has cut about a quarter of the output of the country. Crude oil for June delivery rose 32 cents, or 0.5%, to $64 a barrel on the New York Mercantile Exchange, and traded for $63.88 early in London. Brent crude for June settlement gained 45 cents, or 0.7%, to $66.70 a barrel on London ICE Futures exchange.

Gold gained for the first time this week after Gold Fields Ltd., the world fourth-biggest producer of the metal, announced output declined at seven of its eight mines. Silver also increased. Gold for immediate delivery rose $2.85, or 0.4%, to $676 an ounce, after declining $8.40 in the first three days of this week. Silver rose 11.5 cents to $13.33 an ounce, its first gain this week.

Currencies

The dollar was mostly lower against other major currencies in European trading Wednesday. The euro traded at $1.3609, up from $1.3598 late Wednesday in New York. The British pound traded at $1.9924, up from $1.9896. The dollar fetched 120.12 Japanese yen, unchanged.