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(Reuters) – European stocks were trimmed after four days of losses on Tuesday amid worries over the slowdown in the global economy and the uncertainty surrounding Britain's exit from the European Union.
The DAX chart of the German stock index is presented at the Frankfurt Stock Exchange, Germany, on March 25, 2019. REUTERS / Staff
The pan-regional STOXX 600 index rose slightly, one day after reaching its lowest level in 12 days. Germany and Madrid fell, while the FTSE 100 in Paris and London was slightly higher.
Investors are increasingly worried about the health of the global economy after disappointing data from German and US factories have resulted in a reversal of the US Treasury yield curve, which some see as a leading indicator of the recession .
On Tuesday, 10-year US Treasury yields rebounded slightly from the 2017 lows of the previous session. [US/]
A survey showed that German consumer sentiment unexpectedly deteriorated in April, suggesting that household spending could weaken in the second quarter of this year.
Airbus grew by 1.2%, bringing the biggest boost to the main European index after the planner signed a multi-billion dollar deal for the sale of 300 aircraft to China.
ConvaTec Group Plc recorded a 6.3% rise, according to the Swedish business daily Dagens Industri, which stated that the private equity firm EQT could be one of the parties interested in buying the company.
Ferguson Plc recorded a drop of 8.7% after the trading profits of the world's largest supplier of heating and plumbing equipment exceeded badysts' expectations.
The European retail and personal and household goods sectors were the main market drivers, but their gains were offset by losses suffered by banks and technology stocks.
The British online supermarket Ocado grew by 3.5% thanks to its partnership with the Australian group Coles, its fifth major transaction abroad in less than 18 months.
Dublin shares, which are generally sensitive to Brexit information, fell by 0.6%.
British legislators Tuesday deprived the government of control of the parliamentary agenda for a day in a very unusual attempt to find a way out of the Brexit impbade following the rejection of Prime Minister Theresa May's divorce agreement with the European Union.
Legislators will now vote on various Brexit options on Wednesday, giving Parliament the opportunity to say whether or not it can agree to closer relations with Brussels – and then try to push the government in this direction.
Nearly three years after the referendum on EU membership in 2016 and four days before the planned departure from Britain, we still do not know how, when and even if the Brexit is unfold, while Parliament and the nation are still divided.
Report by Medha Singh and Agamoni Ghosh in Bengaluru; Edited by Andrew Heavens
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