European shares ease from peak, London outperforms on banking boost

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 12, 2021. REUTERS/StafF

(Reuters) – European stocks eased from all-time highs on Tuesday, ahead of a key U.S. 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% after hitting a record high in early trading.

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

UK’s FTSE 100 rose 0.2%, while other main regional indexes fell.

Finnish telecom equipment maker Nokia jumped 5.2% 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% after a near 1% surge in the previous session. Frankfurt-listed shares of genetic testing company Qiagen NV dropped 4.5% after it lowered its outlook on weaker demand for COVID-19 tests.

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