The pan-European Stoxx 600 was little changed, with most sectors down and major bourses pointing in opposite territories.
Europe’s food and beverages sector slipped around 0.7 percent Tuesday after a Mexican bottler and retailer announced it had sold a stake in the world’s second-largest brewer. Fomento Economico Mexicano (Femsa) said Monday that it had sold a 5.24 percent stake in Heineken. Shares of the Dutch brewer fell 3.7 percent on the news.
Meantime, Eurofins Scientific surged to the top of the benchmark in mid-day deals after it announced an agreement to acquire EAG Laboratories from Odyssey Investment Partners. Shares of the French pharmaceutical company soared more than 6 percent.
Looking at individual stocks, Finland’s mining equipment maker Metso was also moving higher on Tuesday after Morgan Stanley raised its stock recommendation to “equal-weight” from “underweight”. Its shares were more than 5 percent higher.
Hugo Boss slumped towards the bottom of the Stoxx 600 Tuesday afternoon after Morgan Stanley downgraded the German fashion retailer to underweight from equal-weight. The brokerage said the firm faces “market-driven”, rather than brand-driven, pressure. Its shares dipped 3.47 percent.
On Wall Street, Dow Jones industrial average hit a record high shortly after markets opened for trading, rising 30 points.