By Investors Hub
European stocks have moved mostly lower on Tuesday as oil prices have resumed their slide and investors digest a fresh profit warning from Thomas Cook Group.
Analysts remain skeptical about the prospects of a U.S-China trade deal after President Donald Trump said he would likely raise the punitive tariffs on $200 billion of Chinese goods.
Trump also threatened to impose tariffs on all remaining Chinese imports if upcoming trade talks fail to produce a deal.
Elsewhere, the Italian government stuck with its high-spending budget plans but left open the possibility of cutting its deficit target for 2019.
While the German DAX Index has fallen by 0.5 percent, the French CAC 40 Index and the U.K.?s FTSE 100 Index are both down by 0.6 percent.
Thomas Cook shares have plunged in London after the holiday group suspended its annual dividend and issued another profit warning.
Standard Chartered is marginally lower on a Bloomberg report that it is considering simplifying its structure to control costs.
Peers Barclays and Royal Bank of Scotland have also fallen on uncertainty about the future of the Brexit process.
Swiss drug major Novartis has also dropped. The company announced that its eye care division Alcon would highlight its vision, strategy and benefits as a standalone company following the planned spinoff.
On the other hand, Accor Hotels has rallied in Paris after the hotel company reaffirmed its financial targets for future earnings growth.
Vallourec, a world leader in tubular solutions, has also soared after providing additional information regarding its liquidity position.
In economic news, French consumer confidence dropped in November to its lowest level since early 2015, survey data from the statistical office INSEE showed. The corresponding index fell to 92 from 95 in October. Economists had forecast a score of 94.
Adedapo Adesanya