European stocks hover near 3-week low, Dialog and BHP slump
LONDON, May 4 (Reuters) - European stocks hovered near a three-week low on Wednesday, with shares in Dialog Semiconductor (LSE: 0OLN.L - news) and BHP Billiton (NYSE: BBL - news) among the worst performers.
The pan-European FTSEurofirst 300 index, which had fallen 1.7 percent in the previous session to a three-week low, was flat.
Dialog shares slumped 9 percent after the maker of chips used in Apple (LSE: 0R2V.L - news) and Samsung Electronics smartphones reported a 58-percent drop in underlying operating profit.
Mining stocks such as BHP Billiton fell as weak copper prices impacted the sector.
However, BHP underperformed its peers to decline by 6 percent after federal prosecutors in Brazil filed a 155 billion-real ($43.5 billion) civil lawsuit on Tuesday against iron miner Samarco and its owners - Vale and BHP - over the fatal collapse of a dam last November.
French bank Societe Generale (Swiss: 519928.SW - news) rose 3.6 percent after pledging further cost cuts this year, with the rise in SocGen (Paris: FR0000130809 - news) shares also lifting up the stocks of its rivals BNP (Paris: FR0000131104 - news) Paribas and Credit Agricole (Swiss: ACA.SW - news) . (Reporting by Sudip Kar-Gupta; Editing by Atul Prakash)