Credit: Investing.com - European stocks remained lower on Tuesday, after the release of mixed euro zone data and as markets were jittery ahead of a meeting of European Union finance ministers scheduled later in the day in Brussels.
During European afternoon trade, the EURO STOXX 50 declined 0.41%, France's CAC 40 retreated 0.47%, while Germany's DAX 30 slipped 0.19%.
The ZEW index of German economic sentiment ticked up to 36.4 from 36.3 in April, well below expectations for a reading of 38.3.
The index of current conditions fell to 8.9 from 9.2 in April, indicating that the German economy could struggle to recover from a 0.5% contraction in the fourth quarter.
A separate report showed that euro zone industrial production rose by a seasonally adjusted 1% in March, more than double expectations for a 0.4% increase.
Financial stocks renained broadly lower, as French lenders BNP Paribas and Societe Generale declined 0.16% and 1.13%, while Germany's Deutsche Bank and Commerzbank tumbled 1.41% and 1.86%.
Earlier in the day, Commerzbank asked shareholders for EUR2.5 billion in the fifth capital increase in four years. The lender is offering the right to buy 20 new shares for every 21 held by investors at EUR4.5 apiece.
Spanish banks added to losses, with Spanish banks BBVA and Banco Santander plummeting 1.35% and 1.67% respectively, while Italy's Intesa Sanpaolo and Unicredit retreated 0.43% and 1.07%.
Elsewhere, EADS surged 2.40% as the Airbus parent posted first-quarter earnings before interest, taxes and one-time items of EUR741 million, exceeding analysts' estimates.
In London, commodity-heavy FTSE 100 eased 0.07%, weighed by losses in mining stocks.
Shares in mining giants BHP Billiton and Rio Tinto plunged 1.52% and 2.40%, while Anglo American dove 3.48%.
Financial stocks were also mostly lower, as Lloyds Banking dropped 0.50% and the Royal Bank of Scotland tumbled 1.06%, while Barclays plummeted 1.10%. HSBC Holdings overperformed on the other hand, edging up 0.10%.
Meanwhile, Severn Trent continued to lead gains, soaring 14.60% after the U.K.'s second-largest publicly traded water company said it received an approach from a group comprising Borealis Infrastructure Management, the Kuwait Investment Office and Universities Superannuation Scheme.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a 0.23% loss, S&P 500 futures signaled a 0.22% fall, while the Nasdaq 100 futures indicated a 0.29% decline.
Also Tuesday, Spain saw borrowing costs fall to the lowest level since 2010 at an auction of 12-month government bonds.
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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.
