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European stocks traded mixed in cautious trade on Tuesday as the deepening energy crisis in the region fueled recession fears. <\/p>\n
Rising U.S. stock futures helped investors shrug off survey results showing that Europe’s two largest economies both probably contracted in August.<\/p>\n
The composite purchasing managers indexes for Germany and France hit a 26-month low and 18-month low, respectively. <\/p>\n
The U.K. composite flash estimate dropped to an 18-monht low of 50.9 in August from 52.1 in July.<\/p>\n
As recession worries mount, investors waited for Fed Chair Jerome Powell’s comments on inflation and the rate outlook at the upcoming annual Jackson Hole economic symposium later this week. <\/p>\n
The pan European Stoxx 600 slipped 0.1 percent to 432.59 after losing 1 percent on Monday. <\/p>\n
The German DAX rose 0.2 percent and France’s CAC 40 index was marginally higher while the U.K.’s FTSE 100 was down about half a percent.<\/p>\n
Swiss drug major Roche fell 1.3 percent after it launched a digital PCR system that helps clinical researchers better understand the nature of a patient’s cancer, genetic disease or infection.<\/p>\n
BT group shares rose about 2 percent after the government allowed French billionaire Patrick Drahi to retain his stake in the telecoms group.<\/p>\n
John Wood Group tumbled 3.3 percent. After reporting a wider pretax loss for the first half of 2022, the engineering services firm said it expects performance to improve in the second half. <\/p>\n<\/p>\n
Business News<\/p>\n<\/div><\/div>\n