Investing.com - European stocks were broadly lower on Tuesday, as investors remained cautious in the absence of any major economic reports from the euro zone, although higher oil prices lent support to the energy and mining sectors.
During European morning trade, the EURO STOXX 50 declined 0.42%, France’s CAC 40 dropped 0.42%, while Germany’s DAX 30 fell 0.25%.
Oil prices continued to move higher after Russia announced on Monday that its crude output would remain flat next year.
Energy stocks were mostly higher, as French oil and gas major Total SA (PA:TOTF) gained 0.86% and Italy’s ENI (MI:ENI) SpA advanced 0.47%, while Norwegian rival Statoil ASA (OL:STL) climbed 0.63%.
Financial stocks were also on the upside, as French lenders BNP Paribas (PA:BNPP) and Societe Generale (PA:SOGN) gained 0.87% and 1.01%, while Germany’s Deutsche Bank (DE:DBKGn) and Commerzbank (DE:CBKG) advanced 0.46% and 0.76%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) rallied 1.54% and 2.93% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) climbed 0.83% and 0.92%.
Elsewhere, shares in Thyssenkrupp (DE:TKAG) rallied 1.09% even as thousands of German steel workers held nationwide protests on Monday against the influx of cheap Chinese imports and the uncertainty over the future of the company’s steel works.
On the downside, Vivendi SA (PA:VIV) dropped 0.92% after announcing a decision to take a minority stake in Groupe Fnac’s share capital as part of a strategic partnership to launch a co-operation plan dedicated to cultural activities.
In London, FTSE 100 slipped 0.16%, weighed by Burberry Group (LON:BRBY), whose shares tumbled 1.85% after analysts at RBC Capital downgraded the stock to an “underperform” rating.
Meanwhile, financial stocks were mostly higher, as Barclays (LON:BARC) jumped 1.21% and the Royal Bank of Scotland (LON:RBS) rallied 1.40%, while Lloyds Banking (LON:LLOY) advanced 1.60%. HSBC Holdings (LON:HSBA) underperformed, with shares sliding 0.30%.
In the mining sector, stocks were also broadly higher. Shares Bhp Billiton (LON:BLT) and Rio Tinto (LON:RIO) gained 1.81% and 2.02% respectively, while Glencore (LON:GLEN) climbed 2.70% and Anglo American (LON:AAL) soared 6.32%.
In the U.S., equity markets pointed to a steady to higher open. The Dow Jones Industrial Average futures pointed to a 0.03% uptick, S&P 500 futures a 0.10% gain, while the Nasdaq 100 futures indicated a 0.09% rise.