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European stocks mixed after Chinese data, earnings; DAX up 0.19%

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Investing.com - European stocks were mixed on Tuesday, as upbeat Chinese data lifted market sentiment and investors focused on a fresh batch of earnings reports.

During European morning trade, the EURO STOXX 50 dipped 0.07%, France's CAC 40 inched 0.01% higher, while Germany's DAX 30 added 0.19%.

Data earlier Tuesday showed that China's official manufacturing purchasing managers' index rose to 51.2 in October from 50.4 the previous month.

The Caixin manufacturing PMI also ticked up to 51.2 this month from 50.1 in September.

Financial stocks were broadly higher, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.62% and 0.44%, while Germany's Commerzbank (DE:CBKG) advanced 0.80%.

Among peripheral lenders, Italy's Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) gained 0.66% and 0.44% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) rose 0.34% and 0.23%.

Lufthansa AG VNA O.N. (DE:LHAG) added to gains, with shares rallying 1.50% after a union representing cabin crew said it scrapped plans to stage two days of strikes this week at Lufthansa's budget unit, Eurowings, and is proposing to bring in an arbitrator who helped resolve a previous dispute.

On the downside, Vonovia SE (DE:VNAn) slipped 0.23% after the Austrian competition authority approved late last week the takeover of Austrian property firm Conwert by the German real estate company.

In London, commodity-heavy FTSE 100 gained 0.37%, boosted by a 3.51% surge in Royal Dutch Shell (LON:RDSa) shares after the company reported better than expected third-quarter earnings.

Rival company BP (LON:BP) plummeted 2.36% however, even after reporting earnings above expectations, as net income dropped from the same period last year.

Mining stocks were broadly higher, as BHP Billiton (LON:BLT) climbed 0.97% and Glencore (LON:GLEN) advanced 0.99%, while Rio Tinto (LON:RIO) and Anglo American (LON:AAL) jumped 1.22% and 1.64% respectively.

In the financial sector, stocks were broadly lower. The Royal Bank of Scotland (LON:RBS) dipped 0.01% and Lloyds Banking (LON:LLOY) slid 0.40%, while HSBC Holdings (LON:HSBA) dropped 0.65% and Barclays (LON:BARC) tumbled 1.21%.

In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.19% rise, S&P 500 futures showed a 0.25% increase, while the Nasdaq 100 futures indicated a 0.20% gain.

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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.


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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