European Shares Mixed As Commodities Slide

European stocks were mixed on Tuesday as investors awaited cues from major corporate earnings reports, key economic data and slew of central bank meetings.

Commodities traded mostly lower as copper and iron ore prices fell on China demand concerns.

In economic releases, France’s economy posted a faster-than-expected growth in the second quarter on investment and exports, the first estimate from the statistical office INSEE showed.

GDP expanded 0.3 percent sequentially, beating expectations for a growth of 0.2 percent. The rate matched the 0.3 percent growth logged in the first quarter, which was revised up from 0.2 percent.

The pan European STOXX 600 was up 0.2 percent at 512.98 after falling 0.2 percent on Monday.

The German DAX gained 0.4 percent and France’s CAC 40 inched up 0.3 percent while the U.K.’s FTSE 100 was down half a percent.

Glencore fell more than 3 percent after it reported production falls in its main commodities for the first half of the year.

Miners Anglo American, Antofagasta and Glencore declined 1-3 percent.

Reinsurance company SCOR SE gained 2 percent despite reporting a Q2 group level operating loss of EUR227mn ($246mn).

Fresenius Medical Care slumped 5.4 percent after the dialysis specialist cut the outlook for volumes in its key U.S. market.

Clariant lost 5.5 percent as the Swiss chemical company reported a decline in second-quarter earnings on lower prices and trimmed its sales outlook.

Chemicals maker Covestro AG added 1.5 percent despite lowering the upper end of its full-year core profit guidance.

Sika rallied 2.6 percent. The chemicals maker backed its annual forecast after reporting a 9.2 percent jump in sales for the first half.

Ocado Group plummeted 6 percent. The online supermarket and technology group is extending the maturity of its debt to fund its growth plans.

Spirits maker Diageo fell 9 percent after missing FY profit forecasts.

BP added nearly 2 percent. The energy giant maintained the pace of its share buybacks and increased its dividend after reporting a forecast-beating second-quarter profit.

Standard Chartered surged 6 percent. The Asia-focused bank announced a $1.5 billion share buyback after delivering stronger-than-expected second-quarter profit.

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