European equities ended lower on Wednesday as investors focused on a slew of corporate earnings and a second day of testimony by the U.S. Federal Reserve Chair Janet Yellen.
Shipping giant climbs
European stocks took a pause for breath after recent gains, with the pan-European Euro Stoxx 600 Index closed around 0.2 percent lower as banking stocks outperformed the wider benchmarks. Danske Bank shares fell over 1 percent as shipping giant Moller-Maersk said it would sell off its 20 percent stake in the Danish lender.
Moller-Maersk shares, meanwhile, surged over 9 percent as it posted a rise in net profit to $5.2 billion for last year, from a figure of $3.8 billion the year before.
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On the U.K.'s FTSE 100, Weir Group shares slumped as much as 10 percent as the engineering group warned of a "significant reduction" in 2015 revenue.
Greek extension approved
Investors took a breather from recent concerns over Greece on Wednesday. There had been fears that the country could be on a collision course with its international lenders but Athens presented Tuesday a list of reforms that have met the approval of its creditors and euro zone neighbors.
The approval means that Greece has secured a four-month extension to its bailout program that was due to end in a matter of days. However, the International Monetary Fund and European Central Bank who oversee the country's bailout said the reform plans needed greater clarity.
Greek stocks finished around 1.5 percent lower on Wednesday after a considerable rally on Tuesday.
