European stock markets showed a mixed performance in Tuesday trading, with Germany's DAX rising by 0.55% and France's CAC gaining 0.48%. The Stoxx Europe 600 saw a slight increase of 0.04%, while the Swiss Market Index experienced a decline of 0.26%. The FTSE in London also fell, sliding 0.14%. The recent data highlights the current state of the economy, including significant developments in the UK PMI Composite Output Index, which decreased to 51.8 in October from 52.6 in September, marking the lowest reading since November 2023.
In France, the monthly industrial production fell by 0.9% in September, following a revised increase of 1.1% in August. Analysts had expected a 0.7% decline month-over-month, and year-over-year, French industrial output has contracted by 0.6%. On the corporate front, Deutsche Post was a prominent decliner on the DAX, reporting a reduction in consolidated net profit for the three months ending September 30 to 751 million euros ($820.2 million), down from 807 million euros a year earlier.
However, revenue increased to 20.59 billion euros from 19.4 billion euros. Meanwhile, British asset manager Schroders announced that its total assets under management achieved a record high of 777.4 billion British pounds ($1.013 trillion) for the three months ending September 30, up from 773.7 billion pounds as of June 30.
Additionally, Swiss recruitment firm Adecco Group reported a drop in Q3 net income attributable to shareholders, which fell to 99 million euros from 103 million euros, with revenue also declining year over year to 5.7 billion euros from 5.96 billion euros..