PARIS: The stock benchmarks for Germany, France and the U.K. closed lower on Tuesday, with commodity-related shares weighed by persistent losses in prices for metals and energy.
But another key index, the Stoxx Europe 600 SXXP, +0.22% , edged up 0.2% to end at 388.13 after switching between small gains and losses.
Shares of energy producer Tullow Oil PLC TLW, -2.85% fell 2.9%, trading near the bottom of the Stoxx 600. The global oil benchmark LCOV5, -0.39% dropped, as crude prices remain around their lowest levels in more than six years.
Meanwhile, copper prices HGU5, -0.24% slumped to trade at more-than-six-year lows on worries about demand from China. There have been concerns that China’s recent devaluation of the yuan will slow down the country’s import of copper.
Shares in copper producer Antofagasta PLC ANTO, -2.09% finished 2.1% lower.
Chinese stocks sank Tuesday, with the Shanghai Composite SHCOMP, -3.12% plunging 6.2%.
“Expectations for further stimulus have been stymied following [the] release of stronger housing market data and the fact that the [People’s Bank of China] injected cash into the financial system, hurting odds of an imminent cut to lenders’ reserve requirements,” said Peter Ward, senior sales trader at London Capital Group, in a note.
