European Markets Move Mostly Higher

(RTTNews) - European shares are mostly higher in the mid-day trading on Tuesday as investors await a number of economic data during the day, and as an ECB official hinted at potentially no more rate hikes by the Central Bank.

Jobs data from the U.S. and inflation readings from China, due in the week, are keeping market sentiment in check.

Positive energy stock movement is being partly offset by a drop in miners and healthcare.

On economic front, the data released earlier in the day had showed the HCOB Services PMI readings for November from Germany rising to 49.6 from 48.2 in the previous month and expectations of 48.7 percent. The HCOB services PMI for the Euro Area also increased to 48.7, from 47.8 in the previous month. Markets were expecting a rise to 48.2.

U.K.'s FTSE 100 index is currently trading at 7,466.58, down 46.38 points or 0.62 percent after slipping 0.22 percent in the previous day. The pan European Stoxx 600 is at 465.58, down 0.20 or 0.04 percent.

However, Germany's DAX is up 223.40 points or 1.38 percent, at 16,438.83. France's CAC 40 is at 7,348.51, a growth of 37.74 points or 0.52 percent.

Equity markets in Asia closed on an overwhelmingly negative note on Tuesday, tracking the weak closing on Wall Street on Monday. China's Shanghai Composite Index tumbled 1.67 percent. The Shenzhen Component Index also plunged 1.97 percent. The Japanese benchmark Nikkei 225 lost 455 points or 1.37 percent.

Wall Street had closed on a negative note on Monday as markets reassessed the monetary policy outlook. Anxiety ahead of monthly labor market update also weighed on sentiment. Nasdaq Composite slipped 0.84 percent whereas the Dow Jones Industrial Average edged down 0.11 percent.

In German corporates, Vonovia tops with gains of 2.4 percent. Siemens Energy, RWE and Siemens have all gained more than 1 percent.

Roche Holding AG was trading around 2 percent higher. Its unit Genentech announced positive results from the Phase III INAVO120 study of the combination of inavolisib with palbociclib and fulvestrant as a potential first-line treatment option in metastatic breast cancer.

Kontron AG was up more than 2 percent after signing a contract of over 30 million euros to provide fiber optic solutions for a major undisclosed telecom firm in Germany.

Fresenius was the greatest laggard with a decline of 2.3 percent. Brenntag, Sartorius and Covestro, have all declined more than 1 percent.

In France, Unibail-Rodamco-Westfield topped with gains of 2.6 percent. STMicroelectronics, Michelin and Saint Gobain, all gained more than 1 percent.

Alstom is the greatest laggard with a decline of 1.2 percent. Renault, Sanofi, Danone, Worldline have all declined more than half percent.

Among others, Nokia was losing 8.84 percent. The Finnish company said it now expects revenue from telecom major AT&T in Mobile Networks will decrease over the next 2-3 years.

In London, ValiRx Plc was gaining more than 29 percent after the life science company announced that ValiSeek Limited has entered into an exclusive Option Agreement to license VAL401 with Ambrose Healthcare Limited, a private UK specialist pharmaceutical company.