(RTTNews) – European stocks closed on a mixed note on Tuesday, with investors remaining largely cautious, weighing the outlook for economic growth and earnings.
The pan-European Stoxx 600 ended down 0.24%. The UK’s FTSE 100 was down 0.35% and Germany’s DAX was down 0.07%, while France’s CAC 40 was up 0.26%. Switzerland’s SMI ended unchanged.
Among other markets in Europe, Austria, the Czech Republic, Iceland, Ireland and Spain closed higher.
Belgium, Denmark, Finland, Greece, Netherlands, Norway, Poland, Portugal, Russia, Sweden and Turkey finished poorly.
The euro zone economy expanded in January for the first time in seven months, the results of a purchasing managers’ survey showed today, helping ease fears of an impending recession.
The S&P Global Flash PMI Composite Output Index for the euro zone, which measures activity in the manufacturing and services sectors, rose to 50.2 from 49.3 in December, the highest level since June.
Separate figures showed the UK’s budget deficit widened to its highest level in December, largely due to a sharp rise in spending on energy support schemes and huge interest payments driven by high inflation.
Public sector borrowing rose by GBP 16.7 billion on last year to GBP 27.4 billion in December, according to figures published by the Office for National Statistics.
In the UK market, Rolls-Royce Holdings, Scottish Mortgage, IAG, Entain, WPP, Taylor Wimpey and Flutter Entertainment gained 2 to 3%.
Astrazeneca fell nearly 3%. Tesco, Glencore, Associated British Foods, GSK, Reckitt Benckiser and BP lost 1.1 to 2.5 percent.
In Paris, Publicis Groupe gained about 3% after announcing the appointment of Demet Iquiler as its chief operating officer for EMEA.
Engie ended up 2.8%, while Veolia, Societe Generale, Vinci, WorldLine, Airbus Group, Thales, Bouygues, BNP Paribas and Credit Agricole all ended up between 1 and 2%.
Essilor finished down almost 2%. L’Oreal, TotalEnergies, Carrefour, Pernod Ricard and Sanofi lost 0.6 to 1%.
In the German market, Daimler gained around 2.6%. Munich RE, Hannover Re, E.ON, RWE and Covestro rose 1 to 2 percent.
Sartorius ended down more than 4 percent and Zalando fell 2.2 percent, while Merck, Fresenius Medical Care, Fresenius, Porsche, Volkswagen, Henkel and Siemens Energy lost 1 to 2 percent.