The broad-based major European markets were mixed in Tuesday's trading session, as banking and real estate stocks were strong, while declining media sector stocks dampened gains.
In economic news, Eurostat data revealed that Denmark has the highest private sector labor costs in the European Union in 2015, as employees there received an average of EUR42.70 per hour. Bulgarian had the lowest labor costs at just EUR4.10 per hour.
Among the major European economies, France was fifth, paying an average of EUR35.70 per hour. German employers ranked 8th, paying an average EUR32.70 per hour in 2015 and the UK was 10th, at EUR29 per hour.
In equities, banking stocks and real estate firms helped push the FTSE into positive territory in Tuesday's trading. The London Exchange was led by Standard Chartered plc, which surged 9.7%, while Lloyds Banking Group plc gained 3.6%. Property developers Berkeley Group Holdings, Intu Properties and Land Securities Group rose 2.8%, 1.9%, and 2.8% respectively.
In Germany, steel maker ThyssenKrupp led decliners, down 2.5% while industrial gases and engineering company Linde Group declined 1.8%. Dialysis firm Fresenius lost 1.3% and pharmaceutical company Bayer fell 1.1%.
And in France, media stocks helped drive the CAC-40 into negative territory as Vivendi and Bouygues SA were down 4.8% and 4.5% respectively. Gas and engineering firm Air Liquide lost 4.8%, while pharmaceutical company Sanofi was down 1.5%.
The FTSE gained 0.38%, the DAX lost 0.34%, and the CAC-40 ended down 0.28%.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.