Dipo Olowookere
By Investors Hub
European stocks are turning in a mixed performance on Tuesday as traders are watching Brexit developments closely and looking ahead to Wednesday’s Federal Reserve announcement for clues on what to expect next year.
While the German DAX Index has risen by 0.4 percent, the French CAC 40 Index is down by 0.1 percent and the U.K.?s FTSE 100 Index is down by 0.4 percent.
BP Plc, Total SA and Tullow Oil have moved notably lower as price of oil extends losses for a third straight session on supply glut worries.
Royal Dutch Shell has also fallen on a Bloomberg report that it is in talks to buy Endeavor Energy Resources LP for around $8 billion.
National Grid has slumped after Ofgem published sector-specific consultation documents for the company’s U.K. transmission businesses as part of the ongoing RIIO 2 regulatory process.
On the other hand, Petrofac has soared after issuing a pre-close trading update ahead of the announcement of its full-year results.
Getlink, which manages and operates the Channel Tunnel between England and France, has also moved sharply higher in Paris after Eiffage bought a 5 percent stake in the company.
In economic news, German business confidence slid to its lowest level in over two years, data from the Ifo survey showed.
The Ifo Business Climate Index dropped to 101 from 102 in November, while economists expected a score of 101.7. The latest reading was the lowest since September of 2016, when it was 100.8.
