European shares ease from peak, London outperforms on banking boost

Stocks ease ahead of key inflation reading in US

Photograph: iStock

Photograph: iStock

 

European stocks eased from all-time highs on Tuesday, ahead of a key US inflation reading, but British banks kept UK’s Ftse 100 afloat after a central bank move to scrap curbs on dividends.

The pan-European Stoxx 600 index slipped 0.2 per cent after hitting a record high in early trading.

Barclays, HSBC, and Lloyds Banking Group rose between 1.3 per cent and 1.5 per cent after the Bank of England scrapped pandemic-era restrictions on dividends from top lenders.

UK’s Ftse 100 rose 0.2 per cent, while other main regional indexes fell.

Finnish telecom equipment maker Nokia jumped 5.2 per cent after it said it planned to raise its full-year outlook as business picked up pace in the second quarter.

Healthcare stocks fell 0.8 per cent after a near 1 per cent surge in the previous session. Frankfurt-listed shares of genetic testing company Qiagen NV dropped 4.5 per cent after it lowered its outlook on weaker demand for Covid-19 tests. – Reuters