European Shares Subdued As German Factory Orders Fall Again
(RTTNews) - European shares were subdued on Tuesday, with a deepening political crisis in France and weak factory orders data from Germany weighing on markets.
A government shake-up in France rattled bond yields across Europe, with the German 10-year bond yield, the benchmark for the euro zone bloc, rising 1.4 basis points to 2.73 percent.
German factory orders decreased 0.8 percent on a monthly basis in August, following a 2.7 percent decrease in July, according to data released by Destatis. This was in contrast to the anticipated increase of 1.2 percent.
Excluding large orders, new orders were 3.3 percent lower than in the previous month. The pan-European Stoxx 600 slipped 0.1 percent to 569.48 after closing flat with a negative bias on Monday.
The German DAX dipped 0.2 percent and France's CAC 40 shed 0.4 percent while the U.K.'s FTSE 100 was marginally lower.
Healthcare stocks traded lower, with Germany's Bayer tumbling 4 percent and Denmark's Novo Nordisk falling 2 percent.
British oil giant Shell rose nearly 2 percent in London after updating its Q3 2025 outlook.
Imperial Brands rallied 3 percent. The maker of Winston cigarettes and e-cigarette brand blu has announced an additional 1.45-billion-pound ($1.95 billion) share buyback plan.
Construction company Skanska jumped 4.5 percent and wind turbine manufacturer Nordex rose 1 percent on securing new orders.
Great Portland Estates fell about 1 percent despite reporting strong leasing activity in the first half of its financial year.
Discount retailer B&M European Value Retail slumped 10 percent after a profit warning.
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