Investing.com - European stocks declined on Tuesday, as downbeat data industrial output data from Germany fuelled further concerns that the euro zone's economy is weakening.
During European morning trade, the DJ Euro Stoxx 50 retreated 0.58%, France’s CAC 40 dropped 0.51%, while Germany’s DAX declined 0.60%.
Data on Tuesday showed that industrial output in Germany dropped by a larger than forecast 4.0% from a month earlier in August, the largest decline since early 2009.
The report came a day after data showed that German factory orders fell 5.7% in August, compared to expectations for a 2.5% decline. It was the largest drop since 2009.
Financial stocks were mixed, as BNP Paribas (PARIS:BNPP) edged down 0.08% and Societe Generale (PARIS:SOGN) added 0.19% in France, while Germany's Deutsche Bank (XETRA:DBKGn) slid 0.37% amid reports U.S. prosecutors are discussing whether to press the German bank to plead guilty to interest-rate rigging.
Among peripheral lenders, Unicredit (MILAN:CRDI) rose 0.30% and Intesa Sanpaolo (MILAN:ISP) edged down 0.13% in Italy, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) slumped 0.31% and 0.74%.
Elsewhere, Wirecard (XETRA:WDIG) surged 2.58% after the provider of software for online payments raised its forecast for earnings to at least €170 million from a previous estimate of €163 million.
In London, FTSE 100 slid 0.51%, weighed by losses in the financial sector.
Shares in HSBC Holdings (LONDON:HSBA) slipped 0.25% and the Royal Bank of Scotland (LONDON:RBS) declined 0.30%, while Lloyds Banking (LONDON:LLOY) retreated 0.74%. Barclays (LONDON:BARC) held steady, inching up just 0.02%.
Meanwhile, Rio Tinto (LONDON:RIO) led gains on the index, up 5.29% after revealing that it had rejected a merger offer from Glencore Xstrata (LONDON:GLEN) in August. Glencore shares were up 0.41% following the public announcement.
Rival mining stocks were also broadly higher, as Bhp Billiton (LONDON:BLT) jumped 1.13%, while Randgold Resources (LONDON:RRS) and Antofagasta (LONDON:ANTO) advanced 1.41% and 1.56% respectively.
Tesco (LONDON:TSCO) added to gains, with shares climbing 1.60% following reports the British grocer has asked its commercial director Kevin Grace to step aside.
In the U.S., equity markets pointed to a lower open. The Dow 30 futures pointed to a 0.26% fall, S&P 500 futures signaled a 0.26% loss, while the NASDAQ 100 futures indicated a 0.27% decline.