European shares slipped on Wednesday, after a dip in the previous session following deadly attacks in Brussels, with miners leading the decline on weaker metal prices. Credit Suisse outperformed its sector on news the Swiss bank was cutting costs further. The pan-European FTSEurofirst 300 index fell 0.5 percent to 1,331.8 points at 1534 GMT, while the euro zone's bluechip Euro STOXX 50 index dropped 0.7 percent.
The STOXX Europe 600 Basic Resources Index fell 2.9 percent, topping sectoral fallers, as metal prices declined after the dollar strengthened on hawkish comments from US Federal Reserve policymakers. Credit Suisse rose 0.8 percent after it announced 800 million Swiss francs in extra cost savings and plans to shrink its investment bank further with 2,000 new jobs cuts as it pushes ahead with a restructuring.
"It is positive that Credit Suisse is taking more action and reducing risk weighted assets in global markets," said RBC Europe analyst Fiona Swaffield. Also among the gainers, technology group Hexagon rose 3.8 percent after Morgan Stanley raised its rating on the stock to "overweight" from "equal weight". Europe's largest home improvement retailer Kingfisher gained 6 percent on the back of a forecast-beating 0.3 percent rise in annual profit.
Among other standout movers, Italy's post office operator Poste Italiane rose 3.9 percent as its dividend targets pleased investors, but gambling group William Hill slumped 11 percent after warning of lower profits. William Hill's woes also weighed on the shares of rival bookmakers such as Ladbrokes and Paddy Power Betfair, which fell 2.4 percent and 1 percent respectively.
European travel and leisure shares fell for a second straight session, as the sector continued to feel the effects of Tuesday's attacks on Brussels. The STOXX Europe 600 Travel & Leisure Index fell 0.3 percent, adding to a 1.8 percent decline following the attacks which killed at least 30 people. Some investors remained cautious about the near-term outlook, with the FTSEurofirst still down about 7 percent since the start of 2016 on concerns about a global economic slowdown. "We are in a bear market. We pulled up a bit in February and March, but I think the most likely direction for now is down," ACIES Asset Management hedge fund manager, Andreas Clenow, said.