Major European Markets Roughly Flat In Lackluster Trade

European stocks are roughly flat around noon in lackluster trade on Tuesday with investors largely refraining from making significant moves, as they await some key economic and earnings updates from the U.S. and major European nations.

The U.K.’s FTSE 100 is up 0.3%, while Germany’s DAX and France’s CAC 40 are down 0.05% and 0.04%, respectively. Switzerland’s SMI is up 0.71%. The pan European Stoxx 600 is gaining about 0.2%.

In the UK market, Taylor Wimpey, Persimmon, Melrose Industries, Royal Mail, Barratt Developments and Johnson Matthey are gaining 2 to 2.6%.

Mondi, Hikma Pharmaceuticals, Berkeley Holdings, Ashtead Group and Sainsbury (J) are also notably higher.

AstraZeneca is gaining about 0.3%. The U.S. Food and Drug Administration (FDA) has reportedly approved the AstraZeneca and its partner Sanofi’s antibody therapy to prevent respiratory syncytial virus (RSV) in infants and toddlers.

Polymetal International, Vodafone, BT, Rentokil Initial and Entain are down 1 to 1.7%.

In the German market, Covestro is climbing 3.6% and Vonovia is rising about 2.7%. BASF, Sartorius, Continental, Bayer, Puma and Fresenius are up 1 to 1.8%.

Deutsche Telekom is declining 2.7% and Siemens Healthineers is down 1.3%, while Henkel, Deutsche Bank and Porsche are lower by 0.6 to 0.8%.

In Paris, Capgemini and WorldLine are gaining 1.7% and 1.5%, respectively. Michelin, Publicis Groupe, Renault, BNP Paribas and Sanofi are up 0.5 to 1%.

Orange is down 1.6% and L’Oreal is lower by about 1%. Hermes International, Essilor and Societe Generale are modestly lower.

In the Swiss market, Novartis is gaining more than 3.5% after the company raised its full-year earnings guidance and mapped out the planned spin-off of its generic medicines division Sandoz for early in the fourth quarter.

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