Investing.com - European stocks were steady on Tuesday, as the recently announced deal on Iran's nuclear program continued to support sentiment, although investors remained cautious amid fresh political developments in Italy.
During European morning trade, the EURO STOXX 50 eased up 0.04%, France’s CAC 40 dipped 0.05%, while Germany’s DAX 30 added 0.09%.
Equity markets remained supported after weekend talks among the U.S., Russia, China, Britain, Germany, France and Iran ended in agreement on a "first step deal” that is meant to limit advancements in Iran's nuclear program in exchange for easing economic sanctions against Tehran.
Markets were focusing on developments in Italy, as Silvio Berlusconi was to face a Senate vote on Wednesday on whether he should be expelled from politics for a conviction for tax fraud received earlier this year.
On Monday evening, Berlusconi launched a last-ditch attempt to overturn the conviction, citing new evidence that he said could overturn the guilty sentence.
Financial stocks were steady to higher, as BNP Paribas dipped 0.05% and Societe Generale added 0.12% in France, while Germany's Deutsche Bank climbed 0.60%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.22% and 0.25% respectively, while Italy's Intesa Sanpaolo and Unicredit gained 0.26% and 0.29%.
Elsewhere, German drugmaker Bayer, up 0.02%, was said to be in "early stage" talks to acquire Norwegian partner Algeta, whose prostate cancer medicine was approved for sale in the U.S. in May, for about USD2.42 billion. Algeta shares soared 29.61% following the news.
Repsol rallied 3.66% after the governments of Spain and Argentina reached a preliminary agreement to compensate the Madrid-based oil company for its stake in YPF SA.
In London, FTSE 100 edged down 0.07% in choppy trade.
U.K. lenders tracked their European counterparts higher, with shares in Lloyds Banking up 0.09% and HSBC Holdings rising 0.49%, while Barclays and the Royal Bank of Scotland advanced 0.68% and 0.69% respectively.
Meanwhile, mining stocks were mixed, as Glencore Xstrata tumbled 1.14%, while Polymetal and Randgold Resources gained 0.68% and 0.81%.
Tesco was one of the worst performers on the index, down 1.89%, following reports the supermarket giant suffered a 6% drop in sales in the 12 weeks to November 10, leading to a 1.5% decline in its share of the multibillion Irish grocery market.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.13% increase.
Later in the day, the U.S. was to produce data on building permits, as well as private sector data on consumer confidence and house price inflation.
During European morning trade, the EURO STOXX 50 eased up 0.04%, France’s CAC 40 dipped 0.05%, while Germany’s DAX 30 added 0.09%.
Equity markets remained supported after weekend talks among the U.S., Russia, China, Britain, Germany, France and Iran ended in agreement on a "first step deal” that is meant to limit advancements in Iran's nuclear program in exchange for easing economic sanctions against Tehran.
Markets were focusing on developments in Italy, as Silvio Berlusconi was to face a Senate vote on Wednesday on whether he should be expelled from politics for a conviction for tax fraud received earlier this year.
On Monday evening, Berlusconi launched a last-ditch attempt to overturn the conviction, citing new evidence that he said could overturn the guilty sentence.
Financial stocks were steady to higher, as BNP Paribas dipped 0.05% and Societe Generale added 0.12% in France, while Germany's Deutsche Bank climbed 0.60%.
Among peripheral lenders, Spanish banks BBVA and Banco Santander rose 0.22% and 0.25% respectively, while Italy's Intesa Sanpaolo and Unicredit gained 0.26% and 0.29%.
Elsewhere, German drugmaker Bayer, up 0.02%, was said to be in "early stage" talks to acquire Norwegian partner Algeta, whose prostate cancer medicine was approved for sale in the U.S. in May, for about USD2.42 billion. Algeta shares soared 29.61% following the news.
Repsol rallied 3.66% after the governments of Spain and Argentina reached a preliminary agreement to compensate the Madrid-based oil company for its stake in YPF SA.
In London, FTSE 100 edged down 0.07% in choppy trade.
U.K. lenders tracked their European counterparts higher, with shares in Lloyds Banking up 0.09% and HSBC Holdings rising 0.49%, while Barclays and the Royal Bank of Scotland advanced 0.68% and 0.69% respectively.
Meanwhile, mining stocks were mixed, as Glencore Xstrata tumbled 1.14%, while Polymetal and Randgold Resources gained 0.68% and 0.81%.
Tesco was one of the worst performers on the index, down 1.89%, following reports the supermarket giant suffered a 6% drop in sales in the 12 weeks to November 10, leading to a 1.5% decline in its share of the multibillion Irish grocery market.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.08% rise, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.13% increase.
Later in the day, the U.S. was to produce data on building permits, as well as private sector data on consumer confidence and house price inflation.