ROME: European stock markets traded mostly lower on Tuesday, pulling back after posting the sharpest gain in more than a month, as investors digested disappointing factory data out of Germany.
The Stoxx Europe 600 index SXXP, +0.20% was down 0.2% to 357.70, setting it on track for its first loss in three days. The pan-European benchmark closed at the highest level since Sept. 17 on Monday, after weak U.S. jobs data from Friday sparked speculation the Federal Reserve will keep interest rates at a record low all of 2015.
On Tuesday, a lackluster report from Germany showed manufacturing orders in Europe’s largest economy unexpectedly slumped in August. The disappointing reading is seen as a sign that slower growth in China and recessions in other key markets are starting to impact Germany’s export-driven economy.
Germany’s DAX 30 index DAX, +0.41% fell 0.3% to 9,783.12, for one of the largest country-specific drops in Europe on Tuesday.
The U.K.’s FTSE 100 index UKX, -0.12% gave up 0.3% to 6,277.88, with shares of Glencore PLC GLEN, -2.20% GLCNF, +13.29% 0805, +2.06% down 3.4%.
France’s CAC 40 index PX1, +0.40% slipped 0.1% to 4,612.55.
Movers: Shares of Bouygues SA EN, +3.73% added 3.2% after the French conglomerate said rising demand for mobile data is set to lift its telecom unit’s profitability.
Vivendi SA VIV, +2.84% shares rose 3.1% after the French media group said it has increased its stake in Telecom Italia SpA TIT, -0.19% to 19.9% Telecom Italia stock fell 0.6%.
Oversight: The European Court of Justice ruled the Safe Harbor agreement invalid. The ruling affects thousands of U.S. companies that use self-certification of their data protection to work around EU laws on the transfer of personal customer data.
