Bayer and Lufthansa share European shares

European equities tumbled on Tuesday, as dark forecasts by German giants Bayer and Lufthansa weighed on investor sentiment, as the decline in the pound helped the London benchmark perform better for the second day.

The German Bayer lost 4.4%, becoming the last agricultural supplies company affected by sinking farms in the United States due to floods and trade disputes. It has become more difficult to reach its goal of making profits throughout the year.

The German Lufthansa lost 3.5% after a fall in profits in the second quarter and said the European market would remain very difficult this year.

German consumer confidence has fallen for a third consecutive month as August approaches, trade disputes and a global economic downturn affecting Europe's largest exporter.

All of these factors resulted in a 0.2% dip in the German DAX around 07:13 GMT, while the STOXX 600 European stocks index lost 0.2%.

The British FTSE 100 reached its highest level in 11 months, supported by a 3% jump from the BP energy giant.