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European stocks were little changed on Tuesday after having hit six-month lows in the previous session on heightened Middle East tensions, an unwinding of yen carry trades, lukewarm tech earnings, and concerns about slowing U.S. economic growth.<\/p>\n
The pan European STOXX 600 was marginally lower at 486.86 after logging its steepest three-day decline since June 2022 on Monday. <\/p>\n
The German DAX slipped 0.1 percent, France’s CAC 40 shed 0.6 percent and the U.K.’s FTSE 100 was down 0.4 percent.<\/p>\n
The dollar edged up slightly while U.S. Treasury yields fell ahead of the auction of $58 billion of three-year notes later in the session.<\/p>\n
In corporate news, Swiss staffing firm Adecco climbed 2.2 percent after posting better-than-expected Q2 results. <\/p>\n
Italian bank Monte dei Paschi di Siena surged 6.6 percent after raising its profit outlook. <\/p>\n
InterContinental Hotels Group rose about 1 percent in London after the Holiday Inn owner reported a 3.2 percent rise in revenue per available room in the second quarter.<\/p>\n
Asset manager Abrdn rallied 3.2 percent after reporting better-than-expected profit and lower costs for the first half of the year.<\/p>\n
Construction materials provider SIG declined 1.8 percent after reporting a loss in its half-year results.<\/p>\n
Domino’s Pizza slumped 6.6 percent as it forecast its annual profit to be at the lower end of market expectations.<\/p>\n
German pharmaceutical and life sciences giant Bayer edged up slightly after reporting mixed results for the second quarter and reiterating group guidance.<\/p>\n
In economic releases, Germany’s factory orders rebounded in June due to the significant improvement in the auto industry, data from Destatis revealed. <\/p>\n
Manufacturing orders increased by more-than-expected 3.9 percent on a monthly basis in June, in contrast to the revised 1.7 percent decrease in May. Orders were forecast to climb only 0.7 percent.<\/p>\n
Separately, Eurostat reported that Eurozone’s retail sales dropped at an annual rate of 0.3 percent in June after increasing by 0.5 percent in May. <\/p>\n<\/p>\n
Business News<\/p>\n<\/div>\n