European Stocks Close Mixed After Cautious Session

(RTTNews) - European stocks closed on a mixed note on Tuesday with investors largely making cautious moves amid concerns about slowing global economy, and geopolitical tensions.

The pan European Stoxx 600 climbed 0.23%. The U.K.'s FTSE 100 gained 0.36%, while Germany's DAX and France's CAC 40 edged down 0.16% and 0.07%, respectively. Switzerland's SMI drifted down 0.44%.

Among other markets in Europe, Austria, Czech Republic, Denmark, Greece, Iceland, Norway, Poland and Portugal ended higher.

Belgium, Ireland, Russia and Turkiye closed weak, while Finland, Netherlands, Spain and Sweden ended flat.

In the UK market, BP surged nearly 8% after it posted a record annual profit, in line with increasing natural gas and oil sales from rising prices.

Airtel Africa, BT Group, Shell, GSK, Standard Chartered, Beazley, HSBC Holdings, Natwest Group, Barclays, Lloyds Banking Group, Endeavour Mining and Persimmon gained 1 to 3.2%.

Pearson, Melrose Industries, Compass Group, Rentokil Initial, Scottish Mortgage, RightMove, SAGE Group, Experian, Diageo, Coca-Cola HBC, M&G, Unilever, RS Group, Segro, IAG and Next lost 1 to 3%.

In Paris, BNP Paribas shares climbed higher after the lender raised its 2025 targets and announced a 5 billion-euro share buyback program in 2023, despite posting a lower-than-expected profit in the fourth quarter.

Renault, TotalEnergies, BNP Paribas, Sanofi, Societe Generale, Publicis Groupe and Credit Agricole ended with sharp to moderate gains.

Carrefour ended 4.7% down. Eurofins Scientific and Airbus closed lower by about 4% and 3%, respectively.

Perond Ricard, Hermes International, L'Oreal, Engie, Saint Gobain, LVMH, Safran and Essilor lost 1 to 2.2%.

In the German market, Continental surged more than 2.5% and Linde climbed about 2.3%. Deutsche Bank, Bayer and Siemens Healthineers gained 1.2 to 1.5%.

Shares of software provider TeamViewer soared nearly 18% after the company launched a share buyback and announced it is eyeing double digit growth in 2023.

Siemens Energy, Vonovia, Sartorius, Beiersdorf, Siemens, Symrise, E.ON, Puma, MTU Aero Engines, Adidas, RWE and Merck lost 1 to 2.2%.

In economic news, UK retail sales grew at a slower pace in January as Christmas cheer subsided, data published by the British Retail Consortium and accountancy firm KPMG showed. Like-for-like sales increased 3.9% on a yearly basis in January and overall retail sales grew 4.2%.

Germany's industrial production declined the most in nine months in December driven by the sharp fall in output of intermediate goods, data published by Destatis showed.

Industrial production slid 3.1% on a monthly basis, reversing the 0.4% rise in November. This was the biggest fall since last March, when output was down 4.2% and also larger than the expected 0.7% decline.