Picture used for illustrative purpose. File
European shares inched higher on Monday as German stocks outperformed on the back of improving Chinese manufacturing data, but a warning from Europe's biggest lender HSBC over rising bad loans sent banking stocks lower.
The pan-European STOXX 600 index were up 0.1% at 0714 GMT, with technology, automakers and oil & gas firms leading the gains.
The exporter-heavy German bourse gained 0.6% after a private sector survey showed manufacturing activity in China expanded at the fastest pace in nearly a decade as domestic demand improved.
Euro zone manufacturing PMI data are scheduled for release at 0800 GMT.
However, the gains were capped as U.S. lawmkers were divided over another coronavirus stimulus package, while worries remained about a further tightening of restrictions in Europe as COVID-19 cases rose.
Banking stocks took a hit as HSBC dropped 4.4% after its half-yearly profits more than halved and the lender warned its bad debt charges could blow past a previous estimate to $13 billion this year.
France's Societe Generale also declined 2.3% as it reported a 1.26 billion euro ($1.48 billion) second-quarter loss after booking a writedown on the value of its trading business.
Siemens Healthineers was down 4.8% after the German health group said it was buying U.S. firm Varian Medical Systems for $16.4 billion.
London's benchmark FTSE 100 index of major blue-chip companies rose 0.3 per cent to 6,225.61 points compared with the closing level on Wednesday.
The pan-European STOXX 600 index fell 1.9%, on track for its biggest one-day drop in a month, pushing it to a weekly loss for the first time in four weeks.
European stocks struggled for direction on Tuesday, with banking shares declining ahead of the US and UK central bank meetings this week.
President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a decree overhauling foreign ownership rules of commercial companies. The first of a kind in the GCC region, the 100% ownership of the business in the UAE
Dubai Islamic Bank, DIB, rang the market-opening bell on Tuesday to celebrate the listing of a $1 billion Sukuk on Nasdaq Dubai. The Sukuk achieved a strong 5.7 times subscription rate, attracting more than 150 high-quality investors
In order to foster bilateral cooperation and to provide advanced, innovative services and facilities development to the business community in the UAE, the Abu Dhabi Securities Exchange (ADX) on Tuesday signed