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European stocks traded flat to slightly lower on Tuesday as traders looked ahead to the Easter break and the release of key European and U.S. inflation readings for directional cues. <\/p>\n
Geopolitical tensions also remained in focus after Russian President Vladimir Putin acknowledged for the first time that “radical Islamists” were responsible for last week’s attack on a concert hall outside Moscow and that Ukraine was also somehow involved.<\/p>\n
“We know that the crime was committed by the hands of radical Islamists, whose ideology the Islamic world itself has been fighting for centuries”, Putin said in a televised meeting.<\/p>\n
In economic releases, a survey showed German consumer confidence is set to improve in April.<\/p>\n
The forward-looking consumer confidence index rose to -27.4 in April from revised -28.8 in March, according to a survey conducted by the market research group GfK and the Nuremberg Institute for Market Decisions (NIM).<\/p>\n
Elsewhere, Spain’s economic growth improved at the end of the year, as initially estimated, final data from the statistical office INE showed.<\/p>\n
Gross domestic product grew 0.6 percent from the third quarter, when output was up 0.4 percent. The rate came in line with the estimate published on January 30.<\/p>\n
On a yearly basis, economic growth improved to 2.0 percent, as estimated, from 1.9 percent in the preceding period.<\/p>\n
The pan European STOXX 600 was down 0.2 percent at 508.93 after ending flat with a positive bias on Monday. <\/p>\n
The German DAX was marginally lower while France’s CAC 40 slipped 0.2 percent and the U.K.’s FTSE 100 was little changed with a negative bias. <\/p>\n
Grocery delivery service Ocado rose about 2 percent in London after the company reported strong Q1 performance with 10.6 percent revenue growth year-on-year.<\/p>\n
Flutter Entertainment was also up nearly 2 percent after announcing strong financial results for 2023.<\/p>\n
Smiths Group jumped 3 percent. The engineering group has launched a \u00a3100m share buyback after posting strong half-year earnings results.<\/p>\n
Housebuilder Bellway dropped 1 percent after pretax profit fell for the first half.<\/p>\n
Wacker Neuson SE, a German construction equipment and machinery maker, fell 1.2 percent after saying it is facing high levels of uncertainty due to volatile political and economic developments.<\/p>\n
For the full year, the company expects growth to be either flat or a tad lower in all its regions and segments.<\/p>\n
Wind turbines maker Nordex SE gained 1 percent after it won an order to supply and install 57 N163\/5.X turbines from the Delta4000 series in South Africa to an unnamed customer. <\/p>\n<\/p>\n
Business News<\/p>\n<\/div>\n