Markets & Finance

Europe Stocks Finish Mixed


European stock markets finished mixed on Tuesday.

In London, the Financial Times-Stock Exchange 100 index fell 14.5 points to 5,256.2 as crude oil futures rose and a report on the Confederation of British Industry's index of U.K. factory orders fell for the third straight quarter in July. The data could push Bank of England to cut rates.

Among stocks on the move, Cadbury Schweppes rose after reporting its first half profit rose 6.1%. Yell rose after it posted a 14.5% rise in first-quarter underlying profit. Reuters fell after the company said it will step up investment in China and India. British Airways fell after Morgan Stanley cut its rating on stock to "underweight" from "equal-weight". Cookson Group fell after the company said weakening consumer confidence crimped first half demand.

In Germany, the DAX Index rose 0.79 point to 4,843.49 as July business confidence rose to a five month high, thanks mostly to a lower euro that boosted exports.

Deutsche Telekom rose after Sweden's Tele2 AB beat quarterly earnings forecasts. DAB Bank fell after the company said second-quarter net income fell 10%. Comdirect Bank rose on news its majority owner, Commerzbank, bought a 21.3% stake in the company from T-Online International. Schwarz Pharma rose as the company posted second-quarter net income of 1 million euros, from a loss of 2.9 million euros.

In Paris, the CAC 40 lost 1.34 points to 4,420.78 as oil prices rose and Wall Street shares struggled for direction.

Danone rose; FT reported PepsiCo denied having directly discussed a takeover with the French regulator. LVMH rose after the company said its second-quarter sales rose 10%. Audika fell after the company cut its full year sales-growth forecast. Christian Dior rose after the company said first half sales rose. Dassault Systems rose after the company said second-quarter profit rose 5.6%.

Asian markets ended lower on Tuesday.

In Japan, the Nikkei 225 index fell 24.69 points, or 0.21%, to 11,737.96, as stocks tracked losses on Wall Street yesterday. Market participants were also cautious ahead of quarterly earnings releases from Nissan Motor, Advantest, and others.

In Hong Kong, the Hang Seng index fell 24.10 points, or 0.16%, to 14,769.93, pulling back after nine consecutive days of gains. Profit taking in property and blue chip plays weighed on the market, according to Standard & Poor's MarketScope.


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