(RTTNews) – European stocks were carried out mixed on Tuesday, as investors were largely cautious in digesting the latest batch of profit reports, monitoring the geopolitical front and awaiting progress in the U.S. stimulus.
Tensions between the U.S. and China remained on investors’ radar after U.S. President Donald Trump said he would ban the popular TikTok video app in the United States unless a corporate generation like Microsoft buys it. Meanwhile, china Daily said China would not settle for the U.S. flight from TikTok.
Developing, the editor of a newspaper published through the People’s Daily of the ruling Communist Party in China said Beijing would retaliate if all Chinese newspapers based in the United States were forced to leave the country.
The pan European Stoxx 600 edged down 0.07%. The U.K.’s FTSE 100 edged up 0.05% and France’s CAC 40 advanced 0.28%, while Germany’s DAX declined 0.36% and Switzerland’s SMI slid 0.66%.
On the economic front, Eurostat’s initial knowledge showed that the costs of commercial manufacturers in the euro domain increased for the first time in five months in June and at a faster-than-expected rate, economic activity was held back through Covid-19 containment measures in peak countries. EU countries.
The manufacturer’s value index for the development of the euro domain rose 0.7% until May, while it fell by 0.6%. Economists had forecast an increase of 0.5%.
According to a research report through the Secretary of State for the Economy, or SECO, Swiss sentiment recovered from its cave in April after measures to involve the coronavirus relaxed.
According to the report, the customer’s confidence rate rose to -12 in July after an all-time low of -39.3 in the last quarter. However, the reading is well below its long-term average of -5. Expectations of overall economic progress advanced considerably, with the index emerging from -78.3 to -16.7.
Rolls-Royce Holdings gained about 6.5%. BT Group shares rose 8.4%. BP ended approximately 6.5% after posting a loss and cutting its dividend as expected.
Carnival, BAE Systems, Melrose, Hiscox, Whitbread, ITV, Royal Dutch Shell and Meggit rose to 5.2%.
Diageo lost more than 5% after the company reported a larger-than-expected decline in underlying sales in the quarter.
Berkeley Group shares shed about 3.1%, while Hikma Pharmaceutical, Intertek Group, Rentokil Initial and AstraZeneca lost 2.5 to 2.7%.
By contrast, Dassault Systemes, Sanofi and Worldline fell 2 to 2.75%.
In the German market, Lufthansa rose 5.25%. BMW rose 3.5%, Dalmier by 2.8% and Volkswagen by 2.5%.
Infineon Technologies shares ended more than 2.5% after the company showed its profit forecast for the year after posting an after-tax loss for the third quarter of its fiscal year on higher earnings.
Bayer slid almost 2.5% with weak results. The multinational pharmaceutical and life sciences company said it was expecting sales of 43 to 44 billion euros this year, a diversity of one billion euros below the previous target.
Covestro lost 2.3% and Merck ended nearly 2% down, while Fresenius Medical Care, Wirecard, SAP and Siemens ended lower by 1.3 to 1.7%.