ROME: European stocks were mixed on Tuesday, amid growing uncertainty over whether the European Central Bank will announce additional stimulus measures at its policy meeting this week.
During European morning trade, the EURO STOXX 50 edged up 0.10%, France’s CAC 40 dipped 0.06%, while Germany’s DAX 30 slipped 0.20%.
European equities had found support in recent weeks as the ECB signaled that it is ready to implement additional easing measures in order to boost inflation in the euro zone and support growth.
Investors remained cautious however, after data on Tuesday showed that China’s manufacturing purchasing managers’ index ticked down to 49.6 last month from 49.8 in October. Analysts had expected the index to remain unchanged in November.
The disappointing data fuelled fresh concerns over a slowdown in the world’s second largest economy.
Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.23% and 0.73%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) rose 0.37% and 0.52%.
Among peripheral lenders, Italy’s Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) advanced 0.72% and 1.11% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) climbed 0.56% and 0.80%.
Elsewhere, Deutsche Lufthansa (DE:LHAG) AG remained on the upside for a second consecutive session, with shares rising 0.22% after the Verdi union confirmed on Monday an agreement on pay and retirement with ground crew, technical and cargo workers.
On the downside, gas supplier Linde AG (DE:LING) dove 11.07% after cutting its earnings targets for the third time in just over a year.
In London, FTSE 100 gained 0.42%, boosted by sharp gains in the financial sector amid results from U.K. bank stress tests.
