European Shares See Slight Uptick At Open

(RTTNews) - European stocks edged up slightly in cautious trade on Tuesday after U.S. President Donald Trump refrained from imposing immediate tariffs on his first day back in office.

Investors also closely monitored developments at the World Economic Forum taking place this week in Davos, Switzerland.

European Commission President Ursula von der Leyen, Chinese Vice Premier Ding Xuexiang, German Chancellor Olaf Scholz, and Ukrainian President Volodymyr Zelenskyy are among the noteworthy speakers scheduled for today.

The pan European STOXX 600 was up 0.2 percent at 524.64 after ending flat with a positive bias in the previous session.

The German DAX was marginally lower ahead of the ZEW economic sentiment index reading due later in the day.

France's CAC 40 was marginally lower and the U.K.'s FTSE 100 edged up by 0.1 percent. The British pound held steady against its major peers after data showed British pay growth stayed stubbornly strong in the three months to November, dampening rate cut hopes.

Banks traded sharply higher in London, with Llyods Banking Group surging 4.7 percent and Barclays adding 1.3 percent.

Essentra, a global supplier of essential components and solutions, dropped 1.1 percent after sharing an update on share buyback.

Kontron AG jumped 4 percent. The technology group said it aims to continue to grow after a jump in sales and earnings last year.

Premier Foods soared almost 6 percent after the food producer forecast its annual profit at the upper end of analysts' expectations.

French carmaker Renault Group was marginally higher after appointing Duncan Minto as its Chief Financial Officer.