European Market Reports

FTSE 100 Euronext Dax perf CAC 40

European Markets Mixed  The European markets are turning in a mixed performance on Tuesday, with banks and insurersseeing upside, while automakers are falling. Cues from Asia/Pacific and the previous session in the U.S. along with easing of Japan-related nuclear worries influenced sentiment in early trade. The Euro Stoxx 50 index of euro zone blue chippers is advancing 0.29 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.19 percent. However, Switzerland's SMI Index is losing 0.13 percent. The DAX index opened for trade slightly higher at 6,823, compared to the previous close of 6,816. The index moved across the unchanged line and is currently losing 0.31 percent. "We are currently in a waiting position in the market as a declining volatility settles down," market strategist Thilo Müller of MB Fund Advisory told dpa-AFX. According to a study, the DAX listed companies increased earnings by 66 percent in 2010, compared to last year, dpa-AFX said. Deutsche Bank and Commerzbank are advancing 2.25 percent and 1.2 percent, respectively, in Frankfurt. Metro is leading the decliners by falling 1.9 percent after the department stores chain issued a cautious outlook, despite reporting higher full-year earnings. The CAC 40 index opened at 3,904, flat with the previous close, and has been in the green for most of the session. The index is at present rising 0.25 percent. Banks are leading the gainers in Paris. Societe Generale, Credit Agricole, BNP Paribas andNatixis are adding between 2.5 percent and 1.2 percent. Insurer Axa is rising 1.1 percent. Carmakers are falling with Peugeot and Renault declining 1.5 percent and 1.4 percent, respectively. Alcatel Lucent is down 1.1 percent. In the U.K., the FTSE 100 index opened at 5,786 and has been seeing volatile trading. The index is currently losing 0.14 percent. Among miners, Rio Tinto, Antofagasta and Eurasian Natural Resources are moderately lower, while Kazakhmys is moderately higher. TUI Travel is declining 1.5 percent and Carnival is falling 1 percent. Royal Bank of Scotland is rising 2.75 percent in London, and Lloyds Banking Group is adding 1.1 percent. Barclays is up 1.1 percent. Insurers Standard Life and resolution are notably higher. Prudential, Legal & General and Avivaare seeing moderate gains. In Switzerland, foods giant Nestle is falling 1.6 percent, reportedly on a broker downgrade. In economic news from the region, British annual inflation rose to 4.4 percent in February, the highest since October 2008, the Office for National Statistics said. Economists were expecting it to rise to 4.2 percent from 4 percent in January. Meanwhile, Switzerland's trade surplus rose to 2.5 billion Swiss francs in February from 2.04 billion Swiss francs in January, the Federal Customs Administration said. The surplus doubled from the same month last year, the report said. Across Asia/Pacific, most major markets ended in positive territory. China's Shanghai CompositeIndex gained 0.34 percent and Japan's Nikkei 225 surged 4.36 percent. Australia's All Ordinariesadded 0.08 percent. In the U.S., futures point to a mixed open on Wall Street. In the previous session, the Dow closed up 1.5 percent, the Nasdaq jumped 1.8 percent and the S&P 500 rose 1.5 percent. In commodities, crude for April delivery is slipping $0.32 to $102.01 per barrel while gold is losing $0.8 to $1425.6 a troy ounce.