Investing.com - European stocks were mixed to lower on Tuesday, as concerns over the debt crisis in the euro zone continued to weigh on market sentiment, while investors eyed talks between German Chancellor Angela Merkel and European Central Bank President Mario Draghi later in the day.
During European morning trade, the EURO STOXX 50 slipped 0.25%, France’s CAC 40 dropped 0.34%, while Germany’s DAX 30 fell 0.27%.
Market sentiment remained under pressure after a drop in German business sentiment to its lowest since early 2010 stoked concerns on Monday about a slowdown in the euro zone's largest economy, despite the European Central Bank's recently announced bond-buying plan.
Earlier Tuesday, research group Gfk said that its index of Germany’s consumer climate remained unchanged at 5.9 in September, in line with expectations.
Meanwhile, Spain also remained in focus amid fears the country is dragging its feet in requesting the international bailout that most market participants expect.
On Thursday Madrid is to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday. In addition, ratings agency Moody’s is expected to complete a ratings review on Spain later this week.
Financial stocks were mostly lower, as shares in German lenders Deutsche Bank and Commerzbank dropped 0.79% and 0.66%, while France's BNP Paribas and Societe Generale declined 0.54% and 0.13% respectively.
Peripheral lenders were mixed on the other hand, as Spain saw BBVA add 0.15% and Banco Santander slip 0.16%, while Italy's Intesa Sanpaolo rose 0.16% and Unicredit dipped 0.06%.
Auto stocks added to losses, as shares in German manufacturers BMW and Daimler tumbled 2.48% and 2.37%, while French groups Renault and Peugeot lost 1.99% and 2.79% respectively.
In London, commodity-heavy FTSE 100 eased up 0.04%, supported by gains in energy stocks and after data showed that mortgage approvals in the U.K. rose more-than-expected in August.
Oil major Anglo American jumped 1.22% and Petrofac surged 2.02%, while BP saw shares advance 0.83%.
Mining stocks were mixed on the other hand, as shares in BHP Billiton inched up 0.08%, while Rio Tinto slumped 0.69% and steel producer Evraz plunged 2.49%.
U.K. lenders were also mixed. Shares in Lloyds Banking climbed 0.42%, while HSBC Holdings fell 0.14%, Barclays dropped 0.35% and the Royal Bank of Scotland tumbled 1.10%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.07% rise, S&P 500 futures signaled a 0.04% gain, while the Nasdaq 100 futures indicated a 0.13% increase.
Later in the day, European Central Bank President Mario Draghi was to meet with German Chancellor Angela Merkel in Berlin.
During European morning trade, the EURO STOXX 50 slipped 0.25%, France’s CAC 40 dropped 0.34%, while Germany’s DAX 30 fell 0.27%.
Market sentiment remained under pressure after a drop in German business sentiment to its lowest since early 2010 stoked concerns on Monday about a slowdown in the euro zone's largest economy, despite the European Central Bank's recently announced bond-buying plan.
Earlier Tuesday, research group Gfk said that its index of Germany’s consumer climate remained unchanged at 5.9 in September, in line with expectations.
Meanwhile, Spain also remained in focus amid fears the country is dragging its feet in requesting the international bailout that most market participants expect.
On Thursday Madrid is to present its draft budget for next year and announce structural reforms, while the results of bank stress tests are due on Friday. In addition, ratings agency Moody’s is expected to complete a ratings review on Spain later this week.
Financial stocks were mostly lower, as shares in German lenders Deutsche Bank and Commerzbank dropped 0.79% and 0.66%, while France's BNP Paribas and Societe Generale declined 0.54% and 0.13% respectively.
Peripheral lenders were mixed on the other hand, as Spain saw BBVA add 0.15% and Banco Santander slip 0.16%, while Italy's Intesa Sanpaolo rose 0.16% and Unicredit dipped 0.06%.
Auto stocks added to losses, as shares in German manufacturers BMW and Daimler tumbled 2.48% and 2.37%, while French groups Renault and Peugeot lost 1.99% and 2.79% respectively.
In London, commodity-heavy FTSE 100 eased up 0.04%, supported by gains in energy stocks and after data showed that mortgage approvals in the U.K. rose more-than-expected in August.
Oil major Anglo American jumped 1.22% and Petrofac surged 2.02%, while BP saw shares advance 0.83%.
Mining stocks were mixed on the other hand, as shares in BHP Billiton inched up 0.08%, while Rio Tinto slumped 0.69% and steel producer Evraz plunged 2.49%.
U.K. lenders were also mixed. Shares in Lloyds Banking climbed 0.42%, while HSBC Holdings fell 0.14%, Barclays dropped 0.35% and the Royal Bank of Scotland tumbled 1.10%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.07% rise, S&P 500 futures signaled a 0.04% gain, while the Nasdaq 100 futures indicated a 0.13% increase.
Later in the day, European Central Bank President Mario Draghi was to meet with German Chancellor Angela Merkel in Berlin.