European stock markets exhibited a mixed performance on Tuesday, with Germany's DAX rising by 0.55%, France's CAC up by 0.48%, and the Stoxx Europe 600 showing a slight increase of 0.04%. Meanwhile, the Swiss Market Index decreased by 0.26%, and the FTSE in London dipped by 0.14%. In the financial landscape, the S&P Global UK PMI Composite Output Index fell to 51.8 in October, a decline from September's 52.6, slightly bettering the flash estimate of 51.7.
This represents the lowest reading since November 2023. France's industrial production saw a decrease of 0.9% in September, following a revised increase of 1.1% in August. The national statistics agency Insee revealed that analysts had anticipated a drop of 0.7% for the month. Year-over-year, French industrial output experienced a 0.6% decline.
In corporate developments, Deutsche Post faced a challenging quarter, leading the DAX decliners after announcing a consolidated net profit of 751 million euros ($820.2 million) for the three months ending September 30, down from 807 million euros a year prior. Conversely, revenue increased to 20.59 billion euros from 19.4 billion euros.
On a more positive note, British asset manager Schroders announced a new record in total assets under management, which rose to 777.4 billion British pounds ($1.013 trillion) in the quarter ending September 30, up from 773.7 billion pounds on June 30. Meanwhile, Swiss recruitment firm Adecco Group posted a dip in Q3 net income, attributable to shareholders, which fell to 99 million euros from 103 million euros.
Revenue also saw a decrease to 5.7 billion euros from 5.96 billion euros year-over-year..