The pan-European Stoxx 600 edged down by around 0.16 percent during early morning deals, with almost all sectors in negative territory.
food and beverages sector slipped over 1 percent in early morning deals
after a Mexican bottler and retailer announced it had sold a stake in
the world's second-largest brewer. Fomento Economico Mexicano (Femsa)
said Monday that it had sold a 5.24 percent stake in Heineken. Shares of
the Dutch brewer fell more than 4.5 percent on the news.
Eurofins Scientific surged to the top of the benchmark shortly after
the opening bell after it announced an agreement to acquire EAG
Laboratories from Odyssey Investment Partners. Shares of the French
pharmaceutical company soared over 4.5 percent.
individual stocks, Finland's mining equipment maker Metso was also
moving higher on Tuesday after Morgan Stanley raised its stock
recommendation to "equal-weight" from "underweight". Its shares were
around 3.7 percent higher.
Ocado slumped to the bottom of the
pan-European Stoxx 600 on Tuesday morning, after the firm cautioned
investors that its efforts to scale up capacity in the coming months
could increase costs in the short term. The British online grocer
reported a slight acceleration in sales in its fiscal third quarter,
ahead of the industry average. Its shares dipped 5 percent.
shares slipped on Tuesday despite record highs on Wall Street in the
previous session. U.S. Treasury yields appeared to boost financial
shares on Monday, with the Dow Jones industrial average notching a
record high for the fifth consecutive session and the S&P 500 also
hitting another record high.
The Federal Reserve is poised to
begin a two-day meeting later on Tuesday as investors awaited further
clues regarding U.S. monetary policy. The central bank is expected hold
interest rates steady.
Elsewhere, President Donald Trump is set to
make his first appearance at the United Nations (UN) General Assembly
on Tuesday. At a special meeting on UN reform on Monday, Trump suggested
the UN had not fulfilled its potential because of mismanagement and
bureaucracy issues. He is expected to call for a harder line on North
Korea and Iran on Tuesday.
On Monday, Bank of England Governor
Mark Carney said any pending interest rate rises over the coming months
would be limited and gradual, prompting sterling to retreat from its
highest level since the Brexit vote. The U.K. currency fell almost 1
percent on Monday, but pared some of its losses to trade at $1.3542 at
around 6:45 a.m. London time on Tuesday.