Market Update
European markets trended lower Tuesday.
The FTSE was down 0.3%. The CAC 40 Paris slipped 0.1% while the German DAX edged down 0.2%.
Data released earlier by the British Chambers of Commerce showed U.K.'s services exports grew at their fastest ever rate with exports sales and orders at record levels. Manufacturers also got off to a strong start.
In France, data showed the country’s February trade deficit narrowed to 3.4 billion euro from 5.7 billion euro a year earlier.
Ukraine's crisis flared up again on Monday as pro-Moscow protesters occupied government buildings and called for their own referendum on independence, urging renewed diplomatic efforts.
Later Tuesday in the U.S., aluminum major Alcoa will unofficially kick off earnings season when it reports after the U.S. market close.
Stocks on the Move
Sports Direct International PLC fell almost 7% after billionaire Mike Ashley sold a 7% stake in the retailer.
In financials, Prudential was down 1.6% and Aviva declined 1.2%.
Lloyds Banking Group was down 0.8% but HSBC and Standard Chartered PLC gained 0.6% and 1% each, respectively.
Over in Paris, Bouygues SA jumped almost 3% on a newspaper report citing sources that the company is in talks with Iliad SA to sell its mobile phone unit with the latter ready to pay 5 billion euros. The report added that Iliad denied the talks.
Carrefour SA was down about 2% after the Moulin family that controls department store Galeries Lafayette bought a 6.1% stake, becoming the second largest shareholder in the retailer.
Deutsche Bank was down 0.6%.