7:00PM Frankfurt, Paris; 1:00 PM New York – European markets closed lower after a weakness in industrial and financial stocks in the region. PSA Peugeot declined on weak sales outlook. Deutsche Bank reported earnings and a weak investment banking performance in the U.S. The luxury brands manager PPR SA fell after it reported weak sales in the third quarter.

European stocks edged up despite a weakness in energy and industrial stocks in the region. Deutsche Bank declined after it reported earnings. PSA Peugeot Citroen SA declined after it reported weak sales and investors worried that second half sales and earnings will be lower than previously estimated.

In London FTSE 100 Index closed higher 14.45 or 0.28% to 5,257.85, in Paris CAC 40 Index increased 1.77 or 0.05% to close at 3,873.22, in Frankfurt DAX index higher 21.72 or 0.37% to close at 5,833.49. In Zurich trading SMI increased 7.37 or 0.11% to close at 6,434.66.

Gainers & Losers

ArcelorMittal slipped 2.0% to €25.68 after steelmakers declined in the regional trading.

Bic SA rose 3.1% to €48.76 after the specialized in the manufacturing of stationery products, shavers and lighters said third quarter profit increased to €48.7 million from €42.5 million a year ago.

Deutsche Bank AG fell 3.8% to €53.17 the bank said Wednesday that it expects its third-quarter net profit to be around €1.4 billion with all business segments reporting positive results.

Faurecia SA dropped 5.5% to €15.31 after the maker of automotive interiors was downgraded to “neutral” from “buy” at Bank of America.

Kontron AG decreased 1.0% to €8.36 and the company and Emerson announced a joint venture to serve Japanese markets.

Le Carbone Lorraine SA the maker of industrial fuses declined 8.3% to €25.12.

Ludwig Beck Am Rathauseck Textilhaus AG close unchanged at €12.10 and the retailer raised its operating earnings margin to 5% from 4% for the fiscal year 2009.

PSA Peugeot Citroen S.A decreased 5.4% to €22.84 after the manufacturer of passenger cars and light commercial vehicles reported third quarter sales fell 7.7% to €11.8 billion from €12.8 billion a year ago. Automotive revenues fell 4.1% to €9.3 billion from €9.6 billion a year ago. Revenues for new passenger cars and light commercial vehicles declined 4.5%. The group’s revenues from used cars rose 8.4%.

PPR SA slipped 4.7% to €81.17 after the luxury brands manager said third quarter sales decreased 7.6% to €4.56 billion.

Puma AG, the sporting-goods maker fell 3.5% to €216.98 after third quarter revenues fell 9.8% to €673.4 million.

SAP AG rose 0.2% to €34.84 after the maker of business-management software said chief operating officer Erwin Gunst is on medical leave, the company’s spokesman told Dow Jones Newswires Tuesday.

SMA Solar Technology AG rose 1.4% to €69.95 after the solar company was upgraded to “buy” from “hold” at Citigroup Inc.

STMicroelectronics N.V declined 5.3% to €6.24 after the global independent semiconductor company reported third quarter sales fell 15% to $2.27 billion from $1.99 billion a year ago. Net loss in the quarter was $201 million or $0.23 per diluted share compared to net loss of $289 million or $0.32 per share a year ago.

Terreis SA the property- investment arm of Foncia Groupe rose 4.6% to €11.15 after third quarter rental income increased 50% to €3.38 million, according to a report on Bloomberg News.

ThyssenKrupp AG fell 2.0% to €24.56 after the steelmaker said that it is in talks with Greek authorities to close the Hellenic Shipyards and decide the fate of 1,200 staff.

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