LONDON – European stocks oscillated on Tuesday but ended tentatively lower.
pan-european Stoxx 600 The index fell by about 0.15%, reversing previous gains.
Europe’s largest copper producer aurubis Leading the pack, it rose 9% following a report by Bloomberg and is on track to raise a premium of nearly 40%.
spanish energy utilities naturalMeanwhile, it fell about 4% after announcing it was selling about 3.5% of its shares as it looks to join the MSCI index.
In other corporate news, British oil giant shell On Tuesday, it said it expected gas sector trading to be “significantly higher” in the third quarter of this year than in the second. However, the company said in an update that it is pricing in a $600 million hit from the cancellation of the Rotterdam biofuels project. Shell shares ended the session about 1.5% higher.
On the geopolitical front, France is in focus this week following a surprise departure on Monday.
France’s CAC 40 rose on Tuesday after falling 1.3% on Monday, although markets were rattled by Lecorne’s resignation.
Many French stocks rallied on Tuesday, with luxury brands leading the way. gucci owner kering Closed the luxurious giant up the session by about 5.8% LVMH Increased by 3.6%. car manufacturer renaultwhile the altitude of 2.7%.
View of the LA Defense Business District from the banks of the Seine River, with the Cole Defense Tower and Alto Tower in the center.
Henrique Campos | AFP | Getty Images
Elsewhere, data printing at the German factory largely disappointed the market. In August, new orders in the manufacturing sector fell by 0.8% from the previous month, according to figures from Germany’s Federal Statistical Office. Analysts polled by Reuters had expected a 1.1% monthly increase.
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S&P 500 Stocks stalled on Tuesday as Wall Street searched for updates on the U.S. government shutdown, leaving the stock market relatively flat.
The shutdown delayed the release of key economic data, including the September jobs report, expected Friday, thus reducing the amount of information available to the Fed ahead of its next interest rate decision.
A longer shutdown coupled with this data blackout comes at a time when risks to the labor market and inflation remain at their highest.
Overnight in the Asia-Pacific market, Japan Nikkei 225 On Tuesday, it hit a record high for the second straight session, unleashed by a tech rally on Wall Street.
– CNBC’s Pia Singh contributed to this market report.
