Currency Movements Weigh on European Stocks

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By Investors Hub

European stocks are mixed on Tuesday as investors monitored currency movements and looked ahead to further progress in Brexit talks and U.S. tax reform.

While the U.K.’s FTSE 100 Index has inched up by 0.1 percent, the German DAX Index is down by 0.2 percent and the French CAC 40 Index is down by 0.4 percent.

In economic news, business activity across the euro zone accelerated to its fastest pace in over six years in November, data showed. IHS Markit’s final composite PMI was confirmed at an earlier flash reading of 57.5.

Allied Irish Banks has rallied after the lender maintained its dividend guidance. British retailer Tesco has also moved notably higher after an upgrade by research analysts at Goldman Sachs Group.

On the other hand, Provident Financial shares have slumped after U.K. regulator FCA launched a probe into the company’s Moneybarn unit.

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