Investing.com - European stock markets were mixed to lower on Tuesday, as a long-awaited bailout deal for Greece failed to reassure investors over the country’s ability to overcome its debt crisis.
During European morning trade, the EURO STOXX 50 edged up 0.09%, France’s CAC 40 declined 0.01%, while Germany’s DAX 30 slipped 0.10%.
Euro zone finance ministers agreed earlier on a EUR130 billion bailout for Greece to avert a sovereign debt default in March after persuading private bondholders to take greater losses and Athens to commit to deep cuts.
But investors remained wary amid uncertainty over Greece’s ability to meet the terms of the deal and pay off even its reduced debt burden.
Financial stocks were mixed as shares in French lenders led gains, rising 1.05% and 0.83% respectively, while Germany’s Deutsche Bank and Commerzbank declined 0.35% and 0.23%.
Peripheral lenders edged higher following the Greek deal. Shares in Spain’s Banco Santander and BBVA added 0.38% and 0.14%, while Italian Intesa Sanpaolo rose 0.32%.
Meanwhile, Zurich-based lender UBS saw shares retreat 0.42% as the bank is seeking to insulate itself from biggest possible fines in the Libor probe by turning itself in to regulators before its competitors to gain leniency.
German airline company Deutsche Lufthansa also contributed to losses with shares losing 0.82% as Frankfurt airport ground controllers extended industrial action until 11 p.m. on February 24, prolonging a dispute that could force the cancellation of as much as 30% of flights at Europe’s third-busiest hub.
In London, FTSE 100 fell 0.20%, weighed by losses in the energy sector.
Tullow Oil led losses with shares tumbling 3.65%, while Essar Energy and BP declined 1.88% and 0.86% respectively.
Meamwhle, mining giant Anglo American added 0.47%, while Bhp Billiton and Rio Tinto advanced 0.18% and 0.23%.
Elsewhere, U.K. lenders were mixed. Shares in Barclays rose 0.46% and HSBC Holdings added 0.35%, while the Royal Bank of Scotland slid 0.49% and Lloyds Banking plummeted 0.95%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.47%, S&P 500 futures signaled a 0.40% increase, while the Nasdaq 100 futures indicated a 0.34% gain.
European Union finance ministers were scheduled to meet throughout the day.
During European morning trade, the EURO STOXX 50 edged up 0.09%, France’s CAC 40 declined 0.01%, while Germany’s DAX 30 slipped 0.10%.
Euro zone finance ministers agreed earlier on a EUR130 billion bailout for Greece to avert a sovereign debt default in March after persuading private bondholders to take greater losses and Athens to commit to deep cuts.
But investors remained wary amid uncertainty over Greece’s ability to meet the terms of the deal and pay off even its reduced debt burden.
Financial stocks were mixed as shares in French lenders led gains, rising 1.05% and 0.83% respectively, while Germany’s Deutsche Bank and Commerzbank declined 0.35% and 0.23%.
Peripheral lenders edged higher following the Greek deal. Shares in Spain’s Banco Santander and BBVA added 0.38% and 0.14%, while Italian Intesa Sanpaolo rose 0.32%.
Meanwhile, Zurich-based lender UBS saw shares retreat 0.42% as the bank is seeking to insulate itself from biggest possible fines in the Libor probe by turning itself in to regulators before its competitors to gain leniency.
German airline company Deutsche Lufthansa also contributed to losses with shares losing 0.82% as Frankfurt airport ground controllers extended industrial action until 11 p.m. on February 24, prolonging a dispute that could force the cancellation of as much as 30% of flights at Europe’s third-busiest hub.
In London, FTSE 100 fell 0.20%, weighed by losses in the energy sector.
Tullow Oil led losses with shares tumbling 3.65%, while Essar Energy and BP declined 1.88% and 0.86% respectively.
Meamwhle, mining giant Anglo American added 0.47%, while Bhp Billiton and Rio Tinto advanced 0.18% and 0.23%.
Elsewhere, U.K. lenders were mixed. Shares in Barclays rose 0.46% and HSBC Holdings added 0.35%, while the Royal Bank of Scotland slid 0.49% and Lloyds Banking plummeted 0.95%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.47%, S&P 500 futures signaled a 0.40% increase, while the Nasdaq 100 futures indicated a 0.34% gain.
European Union finance ministers were scheduled to meet throughout the day.