Investing.com - European stocks traded slightly higher on Tuesday in holiday-thinned trade, with London desks closed for a public holiday.
During European morning trade, the Euro Stoxx 50 edged forward 0.05%, France’s CAC 40 advanced 0.10%, while Germany’s DAX 30 inched up 0.10%.
In a muted session, those traders on the floor kept an eye on Italian banks after the European Central Bank (ECB) told Banca Monte dei Paschi that it would need to plug an €8.8 billion ($9.2 billion) capital shortfall.
The ECB’s announcement came after the Italian government authorized a €20 billion ($20.9 billion) bailout of the world’s oldest bank.
Monte de Paschi (MI:BMPS) shares had yet to reopen trade after being suspended on December 22 but other Italian banks such as Banco Popolare Sc (MI:BAPO) or Banca Popolare di Milano Scarl (MI:PMII) were under pressure with each trading around 2% lower.
Meanwhile, oil prices traded slightly higher amid thinning pre-New Year holiday trade on Tuesday, less than a week before major global oil producers scale back production in line with the deal they struck last month.
Energy stocks showed muted trade, as French oil and gas major Total SA (PA:TOTF) slipped 0.18%, Italy’s ENI (MI:ENI) was unchanged while Norwegian rival Statoil (OL:STL) inched up 0.06%.
Financial stocks also registered mixed performance, as French lenders BNP Paribas (PA:BNPP) lost 0.77%, but Societe Generale (PA:SOGN) gained 0.18%, while Germany’s Commerzbank (DE:CBKG) edged forward 0.04%, but Deutsche Bank (DE:DBKGn) fell 1.12%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) traded down 0.24% and 0.71%, respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) dropped 0.50% and 0.14%.
In the U.S., equity markets pointed to a flat to lower open. The Dow Jones Industrial Average futures slipped 0.04%, S&P 500 futures dropped 0.07% gain, while the Nasdaq 100 futures gave up 0.13%.