Wall Street continues advance, European shares inch lower

US stocks spent another session in a tight range on Wednesday, with the S&P 500 ending a few points higher and extending a rally that seems to be happening in slow motion.

The Dow Jones industrial average was down 7.36 points, or 0.06 percent, at 13,164.78. The Standard & Poor's 500 Index was up 1.60 points, or 0.11 percent, at 1,405.53. The Nasdaq Composite Index was up 13.95 points, or 0.46 percent, at 3,030.93.

European shares dipped, retreating after a recent rally and hurt by weaker mining stocks after downbeat results from Eurasian Natural Resources.

The FTSEurofirst 300 closed down 0.1 percent at 1,100.74, having risen 0.7 percent on Tuesday.

In Asia, Nikkei share average edged lower as bank and steel shares slid, offsetting gains in exporters from a weaker yen following encouraging economic data from the United States and Germany.

The Nikkei pared losses at the last minute to end down just 0.1 percent at 8,925.04 after facing resistance at its 200-day moving average of 8,959.67. The broader Topix eased 0.3 percent to 747.32.