European Shares Edge Lower In Lackluster Trade

European stocks fell in cautious trade Tuesday after rising the previous day in reaction to positive reports about U.S. President Donald Trump’s health and amid optimism that U.S. lawmakers could agree on new stimulus.

The pan European Stoxx 600 slipped 0.3 percent to 364.43 after gaining 0.8 percent in the previous session. The German DAX, France’s CAC 40 index and the U.K.’s FTSE 100 were down between 0.2 percent and 0.3 percent.

Swedish telecom company Telia Co. jumped 4.5 percent after it reached an agreement to sell its international carrier business to Polhem Infra.

Swiss technology accessories make Logitech plunged 5.5 percent on a Bloomberg report that Apple had stopped selling headphones and wireless speakers from rivals.

Puma lost 2 percent after French luxury group Kering said it sold a 5.9 percent stake in the German sportswear group. Kering was down 0.7 percent.

K+S Group shares advanced 1.7 percent. The company has signed an agreement to sell its Americas salt business bundled together as the Americas Operating Unit to Stone Canyon Industries Holdings LLC, Mark Demetree and affiliates.

Waste and water firm Suez rallied 3.7 percent after rival Veolia succeeded in buying 29.9 percent of the company owned by power group Engie. Veolia rose half a percent and Engie gained 1 percent.

Restaurant Group jumped 5 percent despite the company reporting a much widened first-half pretax loss.

Ferrexpo slumped 4 percent. The iron ore company said its third -quarter pellet production declined 12 percent from the second quarter.

In economic news, German factory orders grew at a faster pace in August on robust foreign demand, data from Destatis revealed today.

Factory orders climbed 4.5 percent month-on-month, which was faster than the 3.3 percent rise in July and the 2.6 percent increase economists’ had forecast.

On a yearly basis, manufacturing orders dropped at a slower pace of 2.2 percent, following a 6.9 percent decrease in July.

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