Investing.com - European stocks were higher on Tuesday, as investors eyed the release of euro zone data after the release of a weak German economic report, while disappointing manufacturing data out of China weighed.
During European morning trade, the EURO STOXX 50 gained 0.60%, France’s CAC 40 advanced 0.84%, while Germany’s DAX 30 inched 0.01% higher.
Markit research group said that Germany's flash manufacturing purchasing managers' index fell to 47.9 in April, from a reading of 49.0 the previous month. Analysts had expected the index to remain unchanged this month.
Germany's flash services PMI ticked down to 49.2 in April, from a reading of 50.9 in March, disappointing expectations for a rise to 51.0.
Earlier Tuesday, the preliminary reading of China's HSBC manufacturing purchasing managers’ index came in at 50.5 for April, down from a final reading of 51.6 in March.
The weak data appeared to point to a slower rate of growth in the manufacturing sector of the world’s second largest economy in the second quarter.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.57% and 1.72%, while Germany's Deutsche Bank rallied 1.56%.
Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander surging 1.10% and 1.89%, while Italy's Intesa Sanpaolo and Unicredit added 0.23% and 1.45% respectively.
On the downside, tiremaker Michelin tumbled 1.63% after saying first-quarter revenue fell 8.1% as falling car sales in Europe hurt demand.
In London, FTSE 100 added 0.13%, as investors eyed a string of U.K. data.
Financial stocks were mixed, as shares in Barclays edged up 0.14% and Lloyds Banking gained 0.79%, while the Royal Bank of Scotland and HSBC Holdings slipped 0.12% and 0.15%.
Meanwhile, mining stocks were broadly lower. BHP Billiton and Rio Tinto were down 0.04% and 0.21% respectively, while Rangold Resources and Antofagasta plummeted 1.13% and 1.37%.
Copper producers Xstrata and Kazakhmys were also on the downside, retreating 0.41% and 0.76%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.23% fall, S&P 500 futures signaled a 0.28% loss, while the Nasdaq 100 futures indicated a 0.23% slip.
Also Tuesday, Markit said France's flash manufacturing PMI rose to 44.4 in April, from a reading of 44.0 the previous month, beating expectations for a rise to 44.3.
France's flash services PMI rose to 44.1 this month, from 41.3 in March, compared to expectations for a rise to 42.0.
Later in the day, the U.S. was to release official data on new home sales.
During European morning trade, the EURO STOXX 50 gained 0.60%, France’s CAC 40 advanced 0.84%, while Germany’s DAX 30 inched 0.01% higher.
Markit research group said that Germany's flash manufacturing purchasing managers' index fell to 47.9 in April, from a reading of 49.0 the previous month. Analysts had expected the index to remain unchanged this month.
Germany's flash services PMI ticked down to 49.2 in April, from a reading of 50.9 in March, disappointing expectations for a rise to 51.0.
Earlier Tuesday, the preliminary reading of China's HSBC manufacturing purchasing managers’ index came in at 50.5 for April, down from a final reading of 51.6 in March.
The weak data appeared to point to a slower rate of growth in the manufacturing sector of the world’s second largest economy in the second quarter.
Financial stocks were broadly higher, as shares in French lenders BNP Paribas and Societe Generale jumped 1.57% and 1.72%, while Germany's Deutsche Bank rallied 1.56%.
Peripheral lenders added to gains, with Spanish banks BBVA and Banco Santander surging 1.10% and 1.89%, while Italy's Intesa Sanpaolo and Unicredit added 0.23% and 1.45% respectively.
On the downside, tiremaker Michelin tumbled 1.63% after saying first-quarter revenue fell 8.1% as falling car sales in Europe hurt demand.
In London, FTSE 100 added 0.13%, as investors eyed a string of U.K. data.
Financial stocks were mixed, as shares in Barclays edged up 0.14% and Lloyds Banking gained 0.79%, while the Royal Bank of Scotland and HSBC Holdings slipped 0.12% and 0.15%.
Meanwhile, mining stocks were broadly lower. BHP Billiton and Rio Tinto were down 0.04% and 0.21% respectively, while Rangold Resources and Antofagasta plummeted 1.13% and 1.37%.
Copper producers Xstrata and Kazakhmys were also on the downside, retreating 0.41% and 0.76%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.23% fall, S&P 500 futures signaled a 0.28% loss, while the Nasdaq 100 futures indicated a 0.23% slip.
Also Tuesday, Markit said France's flash manufacturing PMI rose to 44.4 in April, from a reading of 44.0 the previous month, beating expectations for a rise to 44.3.
France's flash services PMI rose to 44.1 this month, from 41.3 in March, compared to expectations for a rise to 42.0.
Later in the day, the U.S. was to release official data on new home sales.