The European ended Tuesday's session with mixed results, but remained little changed overall. Investors were in a cautious mood ahead of the Brexit vote in the House of Commons and tomorrow's policy decision from the Federal Reserve.
Investors are unsure what to make of the results of the historic summit between U.S. President Donald Trump and North Korean leader Kim Jong Un. Trump and Kim signed a joint statement pledging to work together to "build a lasting and stable peace regime on the Korean Peninsula."
However, the agreement fell short on some key details. The language of the agreement does not spell out how the denuclearization will be verified.
The pan-European Stoxx Europe 600 index advanced 0.04 percent. The Euro Stoxx 50 index of eurozone blue chip stocks decreased 0.13 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.04 percent.
The DAX of Germany dropped 0.00 percent and the CAC of France fell 0.38 percent. The FTSE 100 of the U.K. declined 0.43 percent, but the SMI of Switzerland finished higher by 0.20 percent.
In Frankfurt, Heidelberger Druckmaschinen sank 9.02 percent. The precision mechanical engineering company announced that it is on track to meet medium-term targets.
Luxury carmaker BMW slid 0.09 percent after unveiling vehicles sales figures for May.
In Paris, Carrefour rallied 3.13 percent. The food retailer is partnering with Google to make groceries available on the U.S. search engine's new dedicated shopping site in France.
Casino Guichard-Perrachon jumped 1.76 percent. The supermarket company aims to sell non-core assets worth about 1.5 billion euros ($1.77 billion) by early 2019 to reduce debt.
In London, British American Tobacco dropped 1.77 percent after releasing its first-half trading statement.
AstraZeneca fell 0.65 percent. The pharmaceutical firm announced that it will discontinue global clinical trials for lanabecestat, a treatment for Alzheimer's disease.
German investor confidence declined more-than-expected in June to its lowest level in over five-and-a-half years, survey data from the Centre for European Economic Research or ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment for Germany shed 7.9 points in June to stand at minus 16.1 points, the Mannheim-based think tank said. Economists had expected a score of -14.
The UK unemployment rate remained unchanged at the lowest level since 1975, the Office for National Statistics reported Tuesday. The ILO jobless rate remained at 4.2 percent in the three months ended April, but down from 4.6 percent a year ago. This was the joint lowest since 1975.
A report released by the Labor Department on Tuesday showed another modest increase in consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index rose by 0.2 percent in May, matching the increase seen in April as well as economist estimates.
by P2PNews Staff Writer