Investing.com - European stocks were steady to higher in cautious trade on Tuesday, as concerns over ongoing Greece bailout discussions continued to dominate investors' attention.
During European morning trade, the EURO STOXX 50 edged up 0.10%, France’s CAC 40 added 0.16%, while Germany’s DAX 30 eased up 0.01%.
Investors remained cautious amid concerns over whether Greece can reach a compromise with its creditors in time to unlock more bailout funds before it runs out of cash in three weeks, as negotiations over economic reforms dragged on.
Greek Prime Minister Alexis Tsipras’ government put forward new reform plans for approval late last Friday, as part of a bailout extension review. Officials from the European Union, the International Monetary Fund and the European Central Bank were to examine the measures.
Earlier Tuesday, official data showed that German retail sales slipped 0.5% last month, compared to expectations for a 0.7% decline. January's figure was revised to a 2.3% increase from a previously estimated 2.9% gain.
A separate report showed that French consumer spending inched up 0.1% in February, disappointing expectations for an increase of 0.8%, after an upwardly revised 0.7% rise the previous month.
Financial stocks were mixed, as French lenders Societe Generale (PARIS:SOGN) and BNP Paribas (PARIS:BNPP) eased 0.04% and 0.16%, while Germany's Commerzbank (XETRA:CBKG) rose 0.28% and Deutsche Bank (XETRA:DBKGn) declined 0.69%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit (MILAN:CRDI) fell 0.16% and 0.55% respectively, while BBVA (MADRID:BBVA) edged up 0.08% and Banco Santander (MADRID:SAN) slipped 0.19% in Spain.
Elsewhere, Italian internet mail order retailer Yoox (MILAN:YOOXm) saw shares surge 9.15% after agreeing to buy Compagnie Financiere Richemont's Net-a-Porter business for stock valued at about €719 million. Shares in the Swiss Cartier owner were down 0.38% following the news.
In London, commodity-heavy FTSE 100 eased up 0.04%, supported by sharp gains in the mining sector.
Shares in Rio Tinto (LONDON:RIO) climbed 0.62% and Glencore Xstrata (LONDON:GLEN) advanced 0.86%, while Bhp Billiton (LONDON:BLT) rallied 1.06% and rival Antofagasta (LONDON:ANTO) soared 2.64%.
Antofagasta was boosed by reports on Tuesday that the copper mining group has considered a merger with Canada's Teck Resources Ltd.
In the financial sector, stocks were mixed. The Royal Bank of Scotland (LONDON:RBS) inched up 0.03% and Lloyds Banking (LONDON:LLOY) added 0.07%, while HSBC Holdings (LONDON:HSBA) and Barclays (LONDON:BARC) slid 0.23% and 0.67% respectively.
Meanwhile, Kingfisher (LONDON:KGF) led gains on the index, for the second consecutive day, with shares rallying 4.51%. The home improvement retailer said on Monday that its acquisition of Mr Bricolage collapsed and that it will consider "all of its options" after the French group's major shareholder, ANPF, refused to extend the deadline of a binding agreement beyond March 31.
In the U.S., equity markets pointed to a steady to lower open. The Dow Jones Industrial Average futures pointed to a 0.06% dip, S&P 500 futures signaled a 0.12% fall, while the Nasdaq 100 futures indicated a 0.02% downtick.
Later in the day, the euro zone was to release preliminary data on consumer inflation and the monthly employment report, while Germany was to report on retail sales and the unemployment rate.
In addition, the U.S. was to produce data on consumer confidence.