European markets were unsteady on Tuesday following uncertainty whether the European Central Bank will introduce stimulus measures this week.
Several indexes slipped on the day, with the DAX 30 falling 1.07%, France’s CAC 40 falling 0.8% and the Euro Stoxx 50 ending the day down 0.75%. Financial stocks were able to remain steady on the day, with many stocks rising as worries over the stimulus intensifies.
BNP Paribas (EPA:BNP) ended the day up 0.52%, Germany’s Deutsche Bank (NYSE:DB) closed up 0.84%, and Societe Generale (EPA:GLE) rose 0.41% on the day. Italy’s Intese Sanpaolo (BIT:ISP) also experienced gains today, ending 0.09% higher on the day. Unicredit (BIT:UCG) had a shocking day, advancing 0.72% before tumbling down 0.05% on the day.
Energy companies struggled on the day, with gas supplier Linde AG (LING) closing 14.34% down on the day. The supplier cut its earnings targets for the third time in the year, causing its stock to crash down.
London’s FTSE 100 experienced a 0.66% gain due primarily to strong financial sector data. HSBC Holdings (HSBA) rallied up 1.91% on the day. Barclays (BARC) also rose 4.88% on the day. The Royal Bank of Scotland (RBS) showed significant gains of 3.34% on Tuesday ahead of the possible European Central Bank stimulus that will be discussed on Thursday.