European stock markets ended trading lower on Tuesday, with the Stoxx Europe 600 Index down 0.76%, the Swiss Market Index down 1.15%, France's CAC down 0.90%, London's FTSE down 0.19% and Germany's DAX. The stock closed 1.09% lower.
The HCOB Eurozone Manufacturing PMI, compiled by S&P Global and measuring the overall health of factories in the Eurozone, fell to 46.1 in March, the lowest level in three months from 46.5 in February. Greece had the highest manufacturing PMI, hitting a 25-month high of 56.9, followed by Spain and Italy at 51.4 and 50.4, respectively. Germany had the lowest PMI at 41.9, the lowest in five months, followed by Austria at 42.2 and France at 46.2.
In the UK, the seasonally adjusted S&P Global UK Manufacturing PMI rose in March from 47.5 in February to 50.3, its highest level in 20 months, and above neutral 50 points for the first time since July 2022.
Meanwhile, UK house prices fell 0.2% in March from February, but rose 1.6% compared to the same month last year, according to the National House Price Index.
Swiss retail sales in February were down 0.2% in seasonally adjusted nominal terms from the previous month and 0.4% from a year earlier, the Swiss Federal Statistical Office said.
And in corporate news, Swiss bank UBS UBSG announced Tuesday that it plans to begin a stock repurchase program of up to $2 billion in stock starting Wednesday and ending on April 2, 2026. The share buyback will be carried out through the trading line of the Swiss SIX exchange and is expected to be repurchased in one year. The company said it would reduce its capital. The bank's shares fell less than 1% on the Swiss Stock Exchange.
Deutsche Bank analysts say Glencore could move its main stock listing from the UK to the US because of the UK's valuation and the exclusion of coal, Bloomberg reported. The company rose 3% on the London Stock Exchange.
shell shell The company responded to a 2021 court ruling mandating a 45% reduction in greenhouse gas emissions by 2030, Reuters reported on Tuesday, saying the ruling would hinder efforts to fight climate change. An appeal has been started. Shell shares closed up 3.5% on the London market.
London-based biopharmaceutical company Autolus Therapeutics AUTL The European Medicines Agency announced on Tuesday that it has accepted a marketing authorization application for obecabtagene autoleucel (also known as obecel) for the treatment of patients with relapsed and refractory adult B-cell acute lymphoblastic leukemia. The company's shares fell 3.5% on the Frankfurt market.
Mining stocks rose in trading on Tuesday, with Fresniro up 7.6% on the FTSE, followed by Anglo American with 4.6% and Glencore, with Rio Tinto and Antofagasta up 2% and 1.3% respectively.
Meanwhile, in London, real estate and home construction stocks were on a downward trend, with Persimmon falling 3.5%, Land Securities falling 3.2%, and Rightmove falling 3.1%. Real estate company Vonovia fell 3.5% on the DAX, while commercial real estate developer Unibail Rodamco fell nearly 1% in Paris.