European stocks were flat to slightly lower on Tuesday, as China tech worries weighed and the day’s economic reports proved to be a mixed bag.
German manufacturing orders dropped 3.7 percent month-on-month in May, reversing a 1.2 percent rise in April, Destatis reported. Orders were forecast to grow 1 percent.
Economic expectations declined in Germany for a second straight month but held up at the historic high levels, the ZEW economic research institute said. The corresponding index decreased to 63.3 from 79.8 previous.
Euro zone monthly retail sales rose more than expected in May after a drop in April. Eurostat said the volume of retail sales rose 4.6 percent compared with April.
A survey showed U.K. construction industry recorded its fastest growth in 24 years last month, helped by a jump in demand for new homes and commercial property.
The pan European Stoxx 600 was virtually unchanged at 458.32 after closing up 0.3 percent on Monday.
The German DAX dropped 0.4 percent and France’s CAC 40 index slipped 0.3 percent, while the U.K.’s FTSE 100 traded on a flat note after Prime Minister Boris Johnson outlined plans to end all restrictions put in place to combat the Covid-19 virus in two weeks.
Travel- related stocks rose after Germany announced plans to lift travel restrictions on fully vaccinated travelers from the U.K., and Portugal. Lufthansa advanced 1.4 percent, IAG jumped 3.4 percent and EasyJet gained 1.9 percent.
Oil major BP Plc rose 0.7 percent and Royal Dutch Shell climbed 1.1 percent as crude prices hit their highest levels since 2018.
British online supermarket Ocado Group rallied 2.4 percent. The company said its loss before tax for the 26 weeks ended 30 May 2021 narrowed to 23.6 million pounds from 40.6 million pounds in the prior year.
J Sainsbury was up 0.8 percent after reporting first-quarter sales ahead of expectations.
French retailer Casino Guichard edged down slightly after announcing it has entered into a strategic collaboration with Google Cloud and Accenture Plc. (ACN) to accelerate its digital strategy.
Speed-train maker Alstom plunged 5.2 percent after it forecast negative free cash flow in the first half of the financial year 2021-2022 due to the integration of newly-acquired Bombardier Transportation.
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