European stock indices mostly fell, as industrial stocks underperformed.
The backlash triggered by President Trump's more conciliatory comments on Monday shook the market, with European stock indexes mostly trading lower in a turbulent early session. Industrial and construction stocks, which are sensitive to energy prices, performed poorly due to the ongoing high oil prices. The STOXX Europe 600 index fell slightly by 0.05%. Germany's DAX index, which has a higher weight of industrial stocks, fell by 0.6% as industrial and chemical companies declined, while software company SAP dropped by 4.8% after an analyst downgrade. The UK's FTSE 100 index remained flat, dragged down by mining and industrial stocks. In Paris, the French CAC 40 index stayed flat, with gains in luxury stocks offset by declines in industrial stocks. The blue-chip indexes in Italy and Spain each fell by 0.3% and 0.1% respectively.
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