European Equities Close Mixed Amid Commodity Stocks Rally; German Construction Contracts

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European equities closed mixed Tuesday after a choppy day of trade which saw indices ricocheting between gains and losses throughout the afternoon session. The FTSE 100 and CAC 40 closed in the black while the DAX closed in the red.

In macro-economic news, new orders in Germany's main construction industry fell by 5.1% in October compared to September, according to destatis, Germany's federal statistics agency. Separately, import prices were 3.5% lower in November compared to the corresponding month of the previous year.

In the UK, public sector net borrowing, excluding public sector banks, decreased by GBP 6.6 billion ($9.79 billion) to GBP66.9 billion in the financial year to date compared with the same period in 2014, according to the Office of National Statistics.

And, in France, turnover in manufacturing declined by 1.0% in October, wiping out the 0.6% gain recorded in September, according to INSEE, France's statistics agency.

In company news, commodities and oil and gas stocks dominated the gainers on London's FTSE 100 with miners Antofagasta, Anglo American, and Fresnillo advanced by 4.7%, 5.3% and 2.7%, respectively. Oil and gas production majors BG Group and the A and B shares of Royal Dutch Shell were 2.7%, 3.1% and 2.9% higher, respectively. Berkeley, a home builder, was up by 3%.

On the DAX, semiconductor developer Infineon Technologies led the decliners, sliding 2.0%, followed by insurance provider Munich Re, 1.2% lower, and logistics and mail company Deutsche Post, down by 1.1%. RWE, an electricity and gas company, was 0.8% lower and airline operator Deutsche Lufthansa edged 0.8% lower.

And, on the CAC-40, gainers were led by steel maker Arcelor Mittal, up 6.1%, financial services company Credit Agricole advanced by 2.4%, Bouygues, a telecommunication, media and connstruction company, was 1.6% higher and designer goods retailers Kering and LVMH Moet Hennessy Louis Vuitton were 1.5% and 0.8% higher, respectively.

The FTSE 100 gained 0.80%, the DAX edged down 0.09% and the CAC-40 edged up 0.05%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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