European Shares Subdued In Lackluster Trade
(RTTNews) - European stocks were subdued on Tuesday after producer price inflation data from China signaled weakness in domestic and overseas demand.
Investors also awaited cues from the ECB, Fed and BoJ meetings for fresh clues on the monetary policy outlook.
ECB President Mario Draghi is expected to unleash a barrage of stimulus on Thursday to shore up economic growth amid the U.S.-China trade war.
The pan European Stoxx 600 was down half a percent at 384.06 after declining 0.3 percent in the previous session.
The German DAX was moving down 0.1 percent and France's CAC 40 index was down about half a percent while the U.K.'s FTSE 100 was little changed with a negative bias.
Spanish telecom major Telefonica fell over 1 percent on reports that it is considering a new employment adjustment to offer voluntary leave for people over 53.
Netherlands-based Qiagen NV declined 2 percent after it decided to integrate its global sales resources into its Business Areas, comprising Life Sciences, Molecular Diagnostics and Bioinformatics.
Volkswagen shares rose about 1 percent. The German automaker has rolled out its first electric car the ID.3, after unveiling a new brand identity and logo.
IAG Group shares jumped 4 percent despite the near grounding of the British Airways (BA) due to the strike by its unionized pilots over pay issues.
Bovis Homes tumbled 3.6 percent as it revived talks to buy Galliford Try's housing businesses.
Ashtead Group dropped 1.8 percent despite the company allaying investor worries about slowing U.S. growth hitting its construction rental business.
JD Sports Fashion soared 6 percent after logging higher profits and revenues in the 26 weeks ended 3 August 2019.
In economic releases, France's industrial production recovered in July but the pace of growth was weaker than expected, figures from the statistical office Insee showed.
The U.K. unemployment rate remained at the lowest since late 1974, the Office for National Statistics reported.
In three months to July, the ILO jobless rate remained unchanged sequentially, at 3.8 percent, but slightly below the expected 3.9 percent.