European Shares Mixed In Cautious Trade

(RTTNews) - European stocks were mixed on Tuesday as worries over the spread of new coronavirus cases offset investor optimism over U.S. stimulus deal talks.

Parts of the U.K. and Spain went into lockdown while France is imposing curfews after seeing a massive increase in the number of people hospitalized.

Ireland announced some of Europe's strictest constraints, telling people not to travel more than five kilometers from home in a bid to combat a rise in infections. New restrictions were also approved in Italy's northern Lombardy region.

The pan European Stoxx 600 edged up 0.1 percent to 367.34 after closing 0.2 percent lower on Monday. The German DAX slipped 0.2 percent, while France's CAC 40 index rose 0.4 percent and the U.K.'s FTSE 100 was up 0.2 percent.

The British pound fluctuated versus the euro amid a lack of progress in the Brexit talks.

The U.K. government said that talks with Chief EU Negotiator Michel Barnier were constructive, but there was still no basis to resume official negotiations. The official British position remains that the EU first needs to make concessions.

Remy Cointreau declined 1.5 percent. The French wine and spirits company reported that its second-quarter total sales declined 6.6 percent.

UBS AG rallied 2.7 percent. The Swiss banking giant pledged to boost payouts after its quarterly profit nearly doubled.

Logitech International soared 21 percent after the Swiss-American computer peripheral maker reported a 75 percent jump in quarterly sales.

Dufry climbed 2.3 percent after Chinese e-commerce giant Alibaba Group said it is taking a stake of 6.1 percent in the company as part of a roughly $900m capital increase.

Hargreaves Lansdown rose about 1 percent after the financial services company signed a pact with its billionaire co-founder and largest shareholder Peter Hargreaves, which will allow him some representation on the board.

Consumer products company Reckitt Benckiser rallied 1.8 percent after lifting its FY20 revenue growth view.

Luxury car maker BMW edged up slightly after it reported an increase in free cash flow for the automotive segment for the third quarter 2020.

Biopharmaceutical lab equipment maker Sartorius climbed 3.2 percent. The company reported that its nine-month earnings and sales grew in significant double-digit rates with high demand for nearly entire product range.

Remote software provider TeamViewer lost 7 percent after Permira sold an 11 percent stake at an 8 percent discount to Monday's closing price.

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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