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.
European stocks struggled for direction on Tuesday, with banking shares declining ahead of the US and UK central bank meetings this week.
London's benchmark FTSE 100 index of major blue-chip companies shed 2.1 per cent to 5,882.30 points, compared with Friday's closing level.
The pan-European STOXX 600 index fell 0.8%, recovering slightly after hitting its lowest level since June 26, while bourses in Frankfurt, London and Paris were down between 0.3% and 0.6%.
Emirates and flydubai airlines will have a combined network of 168 destinations by the end of May, offering more convenience, choice and seamless connectivity for travellers across their combined network.
The World Economic Forum cancelled its 2021 annual meeting scheduled for Singapore in three months’ time on Monday, saying it was not possible to hold such a large, global event due to COVID-19.
The Republic of San Marino for the first time ever showcases the unique attractions and heritage in the UAE during the Arabian Travel Market (ATM).
Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a $30 million (Dhs110.19 million) line-of-credit agreement with the Eastern and Southern African Trade and Development Bank (TDB)