European Shares Little Changed Ahead Of Key Data

European stocks struggled for direction on Tuesday as investors kept a wary eye on bond yields and awaited the release of German ZEW survey results and fourth quarter Eurozone GDP data for directional cues.

Underlying sentiment was underpinned by falling coronavirus infection rates, successful rollouts of Covid-19 vaccines in many countries and the possible easing of lockdown restrictions in England.

The pan European Stoxx 600 edged up 0.1 percent to 419.89 after climbing 1.3 percent on Monday to its highest level since February 2020.

France’s CAC 40 index was little changed and the German DAX slid 0.1 percent while the U.K.’s FTSE 100 was up 0.2 percent, led by miners and energy companies.

Glencore surged 2.7 percent. The world’s biggest commodity trader swung to profit in the second half of the year and reinstated its dividend.

Mining giant BHP was marginally higher. The company declared a record interim dividend after posting its best first-half profit in seven years.

Anglo American rose about 1 percent and Antofagasta added half a percent while oil company BP Plc advanced 1.5 percent and Royal Dutch Shell gained 1.3 percent.

Drug maker AstraZeneca dropped about 1 percent despite the World Health Organization approving AstraZeneca/Oxford Covid-19 vaccine for emergency use.

French tire maker Michelin Cie Des Estb edged down slightly in choppy trade. The company said it expects to deliver segment Operating income in excess of 2.5 billion euros at constant exchange rates and structural free cash flow of around 1 billion euros for fiscal 2021.

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