Modupe Gbadeyanka
By Investors Hub
Following the mixed performance seen in the previous session, European stocks have moved mostly lower during trading on Tuesday.
Worries about global economy due to the ongoing trade dispute between the U.S. and China and uncertainty about the outcome of the U.S. midterm elections are contributing to the weakness in the markets.
While the U.K.?s FTSE 100 Index has slumped by 1.1 percent, the French CAC 40 Index is down by 0.6 percent and the German DAX Index is down by 0.4 percent.
On the economic front, survey data from IHS Markit showed the Eurozone private sector expanded at the weakest pace in over two years in October, as both manufacturing and services recorded slower rates of growth.
The composite Purchasing Managers’ Index fell to 53.1 in October from 54.1 in September. The reading was the lowest since September of 2016. The flash reading for the composite PMI was 52.7.
A separate report from Eurostat showed Eurozone producer price inflation accelerated for a fifth straight month in September.
Producer prices grew 4.5 percent year-over-year following a 4.3 percent increase in August, which was revised from 4.2 percent. Economists had forecast 4.3 percent growth.
Meanwhile, preliminary data released by the Federal Statistical Office showed German factory orders grew for a second straight month in September, defying expectations for a drop.
Manufacturing new orders rose a price, calendar and seasonally adjusted 0.3 percent in September following a 2.5 jump in August. Economists had forecast a 0.5 percent decline.
