LONDON — European stocks were mixed on Tuesday, searching for direction as U.S. bond yields continued to retreat.
The pan-European Stoxx 600 hovered around the flatline in early trade, with oil and gas stocks shedding 1.3% while telecoms gained 0.4%.
The indifferent market open in Europe comes after a sharp rise for European stocks Monday; the Stoxx 600 ended the session up by 1.8%, with travel and leisure shares climbing 3.2% to lead gains as all sectors and major bourses closed in positive territory.
Overnight, however, futures contracts tied to the major U.S. stock indexes traded lower in extended trading after the S&P 500 rallied more than 2% during regular trading hours for its best day since June. Stocks in Asia-Pacific also traded mixed on Tuesday.
Data releases include German unemployment data and flash euro zone inflation data for February.
German manufacturer Kion Group gained 4.5% to lead the Stoxx 600 in early trade, while Hellofresh and French corporate services platform Edenred both slid more than 4% to the bottom of the index, after their respective full-year earnings reports.
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– CNBC’s Thomas Franck contributed to this market report.