It was much of the day relatively quiet on the European stock markets Tuesday. But as investors got new economic data from the United States in the form of particular consumer confidence a trickling market turned - if not flashy – to a plus. Consumer confidence surprised positively with an increase of 70.3 against the expected 63.1 got liquidity back in the market.
The broad European stock index Stoxx 600 closed with a rise of 0.5 percent. At the same time the major national indexes in UK, Germany and France ended with increases of from 0.1 to 0.4 percent.
In London consumer goods kept the market up, while commodity shares again ended at the bottom. The world's largest manufacturer of construction machinery including mining - U.S. Caterpillar - Monday evening downgraded expectations in the coming years due to declining demand and hence investment from commodity producers in the mining industry.
It caused market fluctuations among mining companies that have traditionally are concentrated on the London Stock Exchange. The decline was however offset by increases in particular the technology, media and travel industry.
On the continent the Frankfurt stock exchange suffered from a decrease in the auto sector, where both BMW as Daimler and Volkswagen ended with the fall of 1.4 to 1.7 percent. At the same time tire manufacturer Continental dipped 4 percent after ball bearing group Schäfffler has sold the Group's 10.4 percent stake in the tire manufacturer. DAX closed, however, with a plus of 0.1 percent.
In Paris investors followed developments in London carefully. Consumer goods with entertainment and travel industry had positive development. Vivendi was in the top with an increase of 3.2 percent and hotel group Accor closed 2.5 percent higher. On the other hand, there was a blow to gas and electricity group GDF Suez of not less than 6.1 percent after the Swiss bank UBS removed the stock from the bank's list of key companies.
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