Market Update
European markets were flat in early trading Tuesday as investors focused on some earnings reports.
The FTSE slipped 0.1%. The CAC 40 Paris was flat while the DAX edged up 0.2%.
Data out in Germany showed producer prices inflation unexpectedly declined 0.1% in April, versus hopes for a 0.1% increase.
Inflation data is due later in the data in the U.K.
Stocks on the Move
Moving on results reports, Vodafone shares fell 3.5% while Marks and Spencer fell 2.2%. Vodafone reported results in line with forecasts but said core earnings would fall in 2015. Retailer Marks and Spencer posted a third straight year of falling profit.
Cobham PLC was up 2% after it emerged the company is to buy New York-listed Aeroflex for about $1.46 billion.
BP was down half a percent after a U.S. appeals court refused to revisit a decision to reject BP’s bid to block businesses from recovering money over the Gulf of Mexico oil spill even if the businesses could not trace their losses to the disaster.
Publicis was up 0.8%. Reuters reported without citing names that the ad agency and Facebook have struck a multi-year digital marketing deal.
Deutsche Bank was up 0.7%.