European Shares Mostly Lower; FTSE 100 Rises After Employment Data
(RTTNews) - European stocks were mostly lower on Tuesday as investors closely monitored the second day of high-stakes U.S.-China trade negotiations.
U.K. stocks edged up slightly and the British pound slipped below $1.35 after official data showed the U.K. unemployment rate rose slightly in the three months to April period.
The ILO jobless rate rose to 4.6 percent, as expected, from 4.5 percent in the preceding period.
Average earnings including bonus grew 5.3 percent in three months to April from the previous year - matching expectations.
The pan European STOXX 600 slipped 0.2 percent to 552.20 after ending flat with a negative bias on Monday.
The German DAX fell 0.7 percent and France's CAC 40 shed 0.2 percent while the U.K.'s FTSE 100 was up 0.3 percent.
Defense stocks traded lower, with Saab AB and Renk Group AG falling 4.3 percent and 8.2 percent, respectively.
Barclays fell about 1 percent on reports that the British lender is preparing to cut more than 200 jobs in its investment bank in the coming days.
FirstGroup shares were up more than 7 percent. The transport operator announced a new £50 million share buyback after delivering impressive fiscal 2025 earnings.
Oxford Instruments dropped 1 percent after it agreed to sell its quantum-focused NanoScience business to Quantum Design for £60 million.
Homebuilder Bellway surged 4.6 percent after lifting its full-year revenue outlook.
Novo Nordisk rallied 2.3 percent on reports that activist hedge fund Parvus Asset Management is building a stake in the Danish pharmaceutical giant.
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