European Shares Slide In Lackluster Trade

European stocks were flat to slightly lower on Tuesday as weaker commodity prices pulled down miners and energy companies.

Caution crept in after China’s top financial regulator said that he is concerned about risks arising from bubbles in financial markets and huge inflow of foreign capital.

The pan European Stoxx 600 slipped 0.1 percent to 411.88 after climbing 1.8 percent on Monday.

The German DAX eased 0.2 percent and France’s CAC 40 slid 0.1 percent while the U.K.’s FTSE 100 was marginally higher ahead of Wednesday’s budget.

Meal-kit delivery company HelloFresh slumped 3.4 percent despite reporting quarterly sales above market expectations.

TeamViewer AG, a provider of secure remote connectivity solutions and workplace digitalization technology, rose nearly 4 percent.

The company announced its acquisition of Upskill, the U.S.-based pioneer in augmented reality software for frontline workers for an undisclosed amount.

Swiss Life Group shares were down 0.7 percent. The insurer reported that its fiscal 2020 net profit declined 13 percent from last year to 1.05 billion Swiss francs.

Miners Anglo American and Glencore dropped 1 percent and half a percent, respectively while oil & gas firm BP Plc fell 2.4 percent and Royal Dutch Shell lost 1.8 percent.

Hedge fund manager Man Group rose 0.6 percent. After reporting a slide in its 2020 core pretax profit, the company said it is entering 2021 with good momentum.

Fresnillo fell over 1 percent despite maintaining its outlook for 2021 attributable gold and silver output.

Housebuilder Taylor Wimpey rallied 2 percent after its 2020 pretax profit fell 68 percent in line with expectations.

In economic releases, German retail sales decreased for a second straight month and at a faster than expected pace in January, preliminary figures from Destatis showed.

Retail sales fell 4.5 percent month-on-month, which was worse than the 0.3 percent decline economists had expected. In December, sales decreased 9.1 percent.

U.K. house price inflation accelerated in February, defying expectations for further slowing, survey data from the Nationwide Building Society showed.

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