European Stocks Close On Mixed Note

(RTTNews) - European stocks turned in a mixed performance on Tuesday as data showing a bigger than expected increase in U.S. retail sales in the month of September raised concerns that the Federal Reserve will keep interest rates higher for longer.

Investors also digested the latest batch of economic data from the European region, and U.S. industrial production data.

The pan European Stoxx 600 edged down by 0.1%. The U.K.'s FTSE 100 climbed 0.58%, Germany's DAX and France's CAC 40 edged up 0.09% and 0.11%, respectively, while Switzerland's SMI drifted down 0.69%.

Among other markets in Europe, Austria, Finland, Greece, Iceland, Norway and Sweden ended weak.

Czech Republic, Denmark, Ireland, Netherlands, Poland, Portugal, Russia, Spain and Turkiye closed higher. Belgium ended flat.

On the economic front, the UK average earnings growth slowed in three months to August, data from the Office for National Statistics showed.

Average earnings excluding bonuses grew 7.8% in three months to August. The rate came in line with expectations but slower than the 7.9% increase seen in three months to July. Nonetheless, this was one of the highest annual growth rates since comparable records began in 2001.

Germany's ZEW investor confidence index rose sharply in October. The economic sentiment indicator gained for a third month in a row, up 10.3 points to minus 1.1 in October, survey data from the think tank ZEW showed. Economists had forecast a score of minus 9.3. The latest reading was the strongest since April, when it was 4.1.

In the UK market, TUI, Persimmon and Pennon gained 3.2 to 4%. AstraZeneca surged 2.7%, while JD Sports Fashion, Taylor Wimpey, Barratt Developments, Hiscox, ICP, Ferguson, Natwest Group, Centrica, NEXT gained 1.3 to 2%.

Just Eat Takeaway.com dropped nearly 3%. Hargreaves Lansdown, BT, Prudential, Melrose Industries and Antofagasta lost 1 to 2.3%.

In the German market, Porsche, Continental, Fresenius Medical Care, Covestro, SAP and Hannover Rueck posted moderate gains.

Brenntag ended lower by 3.4%. Sartorius shed about 2.4%. Debutsche Boerse, Bayer, Infineon, Zalando, Deutsche Post and Commerzbank lost 0.7 to 1.4%.

In Paris, Alstom ended 2.7% down. STMicroElectronics, WorldLine and Dassault Systemes lost 1.2 to 1.5%.

Edenred rallied more than 4%. Airbus Group climbed 3.6%. Renault, Stellantis, Safran and AXA gained 0.9 to 1.25%.

Swedish telecom equipment maker Ericsson slumped nearly 6% after reporting a fall in third-quarter revenue.

Swiss stock Lonza plummeted more than 16% after the supplier for pharmaceutical and nutrition companies warned on a hit to 2024 earnings due to lost revenue from an agreement with Moderna Inc.