LONDON - Britain's leading share index shed 0.5 percent as weakness in commodity and banking issues countered gains in selected defensive stocks, reflecting fading risk appetite among some investors. The FTSE 100 closed at 5,473.48 points, down 25.23 or 0.46 percent.

@MARKET ROUNDUP:EUROFIRST

EUROPE - European shares closed higher, with drugmakers boosted by broker upgrades, while banks fell on a profit warning at Societe Generale and oil firms were hurt by weaker crude.

The pan-European FTSEurofirst 300 index rose 0.2 percent to close at 1,056.49 points, having gone in and out of positive territory several times during the session.

@MARKET ROUNDUP:EUROmarkets

FRANKFURT - The DAX index ended at 5,963.14 points, up 20.14 or 0.34 percent.

PARIS - The CAC-40 index closed at 4,000.86 points, up 0.81 or 0.02 percent.

ZURICH - The Swiss market index closed at 6,554.55 points, up 12.65 or 0.19 percent.

MILAN - The FT IT All Share index closed at 24,059.64 points, up 66.37 or 0.28 percent.

@MARKET ROUNDUP:nikkei

TOKYO - The Nikkei stock average fell 1.3 percent on a strong yen and selling of recent big gainers, while resource shares dropped after China tightened monetary conditions, sparking fear of slower demand. The Nikkei shed 144.11 points to 10,735.03 after closing at a 15-month high on Tuesday.

@MARKET ROUNDUP:hang seng

HONG KONG - Shares in China and Hong Kong fell, led by banks and property stocks, as investors fretted that China's surprise reserve requirement increase could cool growth in the world's third-largest economy. Hong Kong's Hang Seng Index fell 2.59 percent or 578.04 points to 21,748.6, its worst one-day percentage loss in six weeks.

@MARKET ROUNDUP:asx

SYDNEY - Australian stocks lost 0.6 percent, dragged down by a poor start to the US earnings season and concerns over the pace of global economic recovery after China's surprise move to tighten monetary policy. The S&P/ASX 200 index fell 31.3 points to 4,868.1, adding to Tuesday's one percent fall.

@MARKET ROUNDUP:south africa

JOHANNESBURG - South Africa's rand steadied against dollar the dollar, reversing earlier gains on local importer demand while local stocks edged higher in line with global equities. The All-share index closed at 28,067 points, up 9.32 or 0.03 percent. The All Gold index closed at 2,441.9 points, down 58.64 or 2.35 percent, while the Industrial index closed at 21,364.12 points, up 185.31 or 0.87 percent.