Major European Markets Close Mixed As Investors Track Geopolitical News

(RTTNews) - European stocks turned in a mixed performance on Tuesday as investors largely made cautious moves, tracking geopolitical news, and continuing to weigh recent policy moves of major central banks.

Weak oil prices aided sentiment. Brent crude futures tumbled to $97.43 a barrel before recovering to around $100.00 a barrel, still down from previous close.

Reports about Iran offering to reopen the Strait of Hormuz within a week if U.S. takes steps to drop military action resulted in oil's slide.

Addressing the 81st session of the United Nations General Assembly, U.S. President Donald Trump said that while others had spoken about peace, he had "made peace". "While others have ignored threats, I have confronted them," he said.

Trump said he has to decide whether to make a deal with Iran or "annihilate" the country.

Meanwhile, investors look ahead to a potential meeting between Iranian President Pezeshkian and U.S. President Donald Trump.

The pan European Stoxx 600 ended 0.13% up. Germany's DAX edged up 0.02%, France's CAC 40 advanced 0.2% and the U.K.'s FTSE 100 closed down by 0.29%. Switzerland's SMI ended flat.

Among other markets in Europe, Austria, Finland, Iceland, Ireland, Netherlands, Portugal, Russia, Spain and Sweden ended higher.

Czech Republic, Greece, Norway and Türkiye closed weak, while Belgium, Denmark and Poland ended flat.

In the UK market, Kingfisher soared 12.5%. The home improvement retailer reported strong first-half results and raised its full-year profit guidance.

Smiths Group climbed 7.5%. JD Sports Fashion surged nearly 6.5%. Coca-Cola HBC, Croda International, Bunzl, Diploma, Coca-Cola Europacific Partners, Antofagasta, Barratt Redrow, Associated British Foods, Metlen Energy & Metals, IAG, Howden Joinery Group and Weir gained 1.6%-3%.

Diageo, Polar Capital Technology Trust, Marks & Spencer, Spirax Group, Endeavour Mining, Unilever, Next, Scottish Mortgage, Computacenter and Anglo American Plc also closed on firm note.

BT Group, Admiral Group, AutoTrader Group, BAE Systems, LSEG, Standard Chartered, Vodafone Group, Aviva, Babcock International, Hiscox, Natwest Group, Airtel Africa, Prudential, M&G, HSBC Holdings, Lloyds Banking Group, Rolls-Royce Holdings, Experian and 3i Group shed 1.4%-4%.

In the German market, Zalando climbed 3.7%. Infineon Technologies, Gea Group, Beiersdorf, Adidas, Henkel, Symrise, MTU Aero Engines, Deutsche Post, Heidelberg Materials, Siemens Energy and Brenntag moved up 1.5%-3.2%.

Allianz dropped about 3.3%. Rheinmetall drifted lower by about 2.4%. Deutsche Bank, Siemens Healthineers and Munich RE also ended notably lower.

In the French market, Bureau Veritas, EssilorLuxottica, STMicroelectronics, Michelin, Pernod Ricard, Saint-Gobain, Unibail Rodamco, ArcelorMittal, L'Oreal, Kering, Air Liquide, Legrand, Eurofins Scientific and Danone gained 1%-2.5%.

Orange closed lower by about 4.1%. AXA ended lower by a little over 2%. Societe Generale lost 2.2%

In economic news, the UK budget deficit exceeded the government estimate in August, data from the Office for Budget Responsibility said.

Public sector net borrowing increased GBP 2.9 billion from the previous year to GBP 18.3 billion in August. This was the second-highest borrowing for August on record and also GBP 3.5 billion above the estimate of the Office for Budget Responsibility.

In the financial year to August, borrowing decreased GBP 2.2 billion to GBP 77.3 billion. However, this was GBP 8.1 billion above the OBR forecast.

At the end of August, public sector net debt was equivalent to 93.8% of GDP, was 1.3 percentage points lower than a year earlier.