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European stocks are mixed with a slow sell-off on Tuesday

2019-08-06 07:44 am | Resource: News | No Views : 27

 European stocks are mixed with a slow sell-off on Tuesday

European stock markets opened up some losses on Tuesday after Wall Street and Asian stocks stabilized following the recent upsurge in the US-China trade dispute. Investors are looking for low-risk havens, including precious metals and sovereign debt. German factory orders are pointing to a slowdown, while euro zone investor confidence fell to an unexpected low.

German factory orders rise 2.5% in June

In Germany, factory orders rose 2.5% month-on-month but fell 3.6% YoY in June, according to data released by Destatis on Tuesday. New orders adjusted by price fell below key orders by 0.4% on a monthly basis.
  • The monthly and annual revised changes for May were -2.0% and 8.4%, respectively, according to the report.
  • On a monthly basis, domestic orders and orders from the euro area orders fell by 1% and 0.6%, respectively
  • While orders from outside the euro zone jumped 8.6% from May.
  • Industry turnover in June fell 0.1% on a monthly basis and seasonally adjusted.

Dutch inflation slows in July

Dutch consumer price inflation fell in July after rising in the previous month, data from the Central Statistics Office showed on Tuesday.
  • The consumer price index rose 2.5 percent year on year in July, after a 2.7 percent increase in June.
  • Inflation on the basis of the Consumer Price Index, or HICP, rose 2.5 percent in July, which was slower than 2.7 percent the previous month.
  • The data showed that the recent slowdown in inflation was largely driven by lower electricity and gas prices by energy companies.

European stock openings
  • The FTSE 100 was down 0.31% at 9:04 CET.
  • The CAC 40 index in Paris rose 0.17% at the same time. .
  • While Germany's DAX rose 0.35% shortly after the opening bell. Deutsche Post AG led the index after posting its earnings, jumping 2.71% at 9:06 CET.

The euro was steady against the dollar, rising 0.03% at $ 1.1205 at 9:07 CET. Meanwhile, the pound jumped 0.20% against the US dollar and traded at $ 1.2164.

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