Investing.com - European stocks were little changed on Tuesday, as investors remained cautious after Monday's disappointing economic reports from the euro zone, while signs of a strong economic recovery in the U.S. supported sentiment.
During European afternoon trade, the EURO STOXX 50 fell 0.21%, France’s CAC 40 dipped 0.02%, while Germany’s DAX 30 inched 0.09% lower.
On Monday, official data showed that industrial production in France dropped 1.2% in January, compared to expectations for a 0.1% rise, after a 0.1% fall the previous month.
The report came after official data showed that Germany’s trade surplus declined to EUR15.7 billion in January from a revised 16.9 billion the previous month.
Meanwhile, sentiment remained supported after data on Friday showed that the U.S. economy added significantly more jobs than forecast in February, with the unemployment rate falling to a four-year low of 7.7%.
Financial stocks were mixed, as shares German lenders Deutsche Bank and Commerzbank climbed 0.53% and 3.32%, while in France, BNP Paribas edged up 0.02% and Societe Generale slipped 0.16%.
Among peripheral lenders, Italian banks Unicredit and Intesa Sanpaolo fell 0.10% and 0.40%, while in Spain, BBVA advanced 0.52% and Banco Santander edged 0.17% lower.
Elsewhere, Pirelli tumbed 3.08% after Europe’s third-largest tiremaker forecast earnings before interest and taxes of EUR810 million to EUR850 million, below the average estimate of EUR875 million.
In London, FTSE 100 inched up 0.06%, supported by gains in the financial sector, while data showed that U.K. manufacturing production dropped 1.5% in January, missing expectations for a 0.1% increase.
Shares in Barclays advanced 0.96% and Lloyds Banking jumped 1.10%, while the Royal Bank of Scotland rallied 1.86%. HSBC Holdings underperformed on the other hand, slipping 0.13%.
Meanwhile, mining stocks remained broadly lower, as Rio Tinto and BHP Billiton fell 0.23% and 0.27%, while precious metals mining company Fresnillo plunged 2.55%.
However, Antofagasta surged 4.98% after the copper producer controlled by Chile’s Luksic family proposed a dividend of 98.5 cents a share, from 44 cents a year earlier.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.19% fall, S&P 500 futures signaled a 0.20% loss, while the Nasdaq 100 futures indicated a 0.21% decline.
During European afternoon trade, the EURO STOXX 50 fell 0.21%, France’s CAC 40 dipped 0.02%, while Germany’s DAX 30 inched 0.09% lower.
On Monday, official data showed that industrial production in France dropped 1.2% in January, compared to expectations for a 0.1% rise, after a 0.1% fall the previous month.
The report came after official data showed that Germany’s trade surplus declined to EUR15.7 billion in January from a revised 16.9 billion the previous month.
Meanwhile, sentiment remained supported after data on Friday showed that the U.S. economy added significantly more jobs than forecast in February, with the unemployment rate falling to a four-year low of 7.7%.
Financial stocks were mixed, as shares German lenders Deutsche Bank and Commerzbank climbed 0.53% and 3.32%, while in France, BNP Paribas edged up 0.02% and Societe Generale slipped 0.16%.
Among peripheral lenders, Italian banks Unicredit and Intesa Sanpaolo fell 0.10% and 0.40%, while in Spain, BBVA advanced 0.52% and Banco Santander edged 0.17% lower.
Elsewhere, Pirelli tumbed 3.08% after Europe’s third-largest tiremaker forecast earnings before interest and taxes of EUR810 million to EUR850 million, below the average estimate of EUR875 million.
In London, FTSE 100 inched up 0.06%, supported by gains in the financial sector, while data showed that U.K. manufacturing production dropped 1.5% in January, missing expectations for a 0.1% increase.
Shares in Barclays advanced 0.96% and Lloyds Banking jumped 1.10%, while the Royal Bank of Scotland rallied 1.86%. HSBC Holdings underperformed on the other hand, slipping 0.13%.
Meanwhile, mining stocks remained broadly lower, as Rio Tinto and BHP Billiton fell 0.23% and 0.27%, while precious metals mining company Fresnillo plunged 2.55%.
However, Antofagasta surged 4.98% after the copper producer controlled by Chile’s Luksic family proposed a dividend of 98.5 cents a share, from 44 cents a year earlier.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.19% fall, S&P 500 futures signaled a 0.20% loss, while the Nasdaq 100 futures indicated a 0.21% decline.