Investing.com – European stocks traded with mixed signs on Tuesday after Germany reported disappointing data and a third estimate of euro zone gross domestic product (GDP) was left unrevised.
Nearing midday in Europe, the benchmark Euro Stoxx 50 gained 0.10%, France’s CAC 40 slipped 0.05%, and Germany’s DAX 30 rose 0.23%.
German factory orders tumbled 7.4% in January, its largest month-on-month decline in eight years, causing concern over the state of the euro zone’s number one economy. The fall was attributed to the orders in Germany itself as domestic demand fell by 10.5%, though foreign orders from the single currency area also sank 7.8%.
Also out on Tuesday, the second revision to the euro area’s fourth quarter GDP showed growth remaining unchanged as expected at 1.7% from the year before.
In company news, Aggreko (LON:AGGK) led decliners on the Stoxx 600 with shares tumbling more than 12% as the temporary power supplier reported a 24% drop in profit and warned that 2017 would be worse.
Just Eat (LON:JE) however led the pan European index higher with gains of more than 4% after the online food delivery firm reported a 93% jump in earnings.
Meanwhile, oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members.
Energy stocks were trading mostly lower, as French oil and gas major Total SA (PA:TOTF) fell 0.87%, Italy’s ENI (MI:ENI) lost 0.27%, though Norwegian rival Statoil (OL:STL) edged forward 0.07%.
Financial stocks also retreated, as French lenders BNP Paribas (PA:BNPP) fell 0.60% and Societe Generale (PA:SOGN) lost 0.34%, while Germany’s Deutsche Bank (DE:DBKGn) slumped 1.84% and Commerzbank (DE:CBKG) traded down 1.57%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) slipped 0.09% and Unicredit (MI:CRDI) lost 0.22%, while Spanish banks BBVA (MC:BBVA) fell 0.79% and Banco Santander (MC:SAN) dropped 0.15%.
In London, the commodity-heavy FTSE 100 gained 0.14%, as mining stocks moved mostly higher.
Shares in Glencore (LON:GLEN) advanced 0.15%, while BHP Billiton (LON:BLT) and Rio Tinto (LON:RIO) jumped 1.20% and 1.38%, respectively. Breaking the general trend, Anglo American (LON:AAL) lost 0.44%.
Energy stocks edged higher, as BP (LON:BP) inched up 0.09% and Royal Dutch Shell (LON:RDSa) gained 0.28%.
Financial stocks showed mixed trade as shares of HSBC Holdings (LON:HSBA) advanced 0.14% and the Royal Bank of Scotland (LON:RBS) dropped 0.21%, while Barclays (LON:BARC) gained 0.48% and Lloyds Banking (LON:LLOY) traded down 0.61%.
In the U.S., futures pointed to a flat to lower open. The Dow Jones Industrial Average futures was unchanged, S&P 500 futures slipped 0.06%, while the Nasdaq 100 futures dropped 0.07%.