BRUSSELS (dpa-AFX) - European stocks fell on Tuesday, weighed down by concerns over tech valuations amid rising skepticism over AI-related spending, and fears of interest rate hikes by the Federal Reserve and a few other central banks.
Technology and mining stocks were among the notable losers.
The pan European Stoxx 600 shed about 0.9%. The UK's FTSE 100 slid 0.5%, Germany's DAX dropped 1.05% and France's CAC 40 drifted lower by about 0.7%.
In the UK market, miners Antofagasta, Fresnillo, Anglo American Plc, Glencore and Rio Tinto lost 4%-6.5%. Endeavour Mining shed about 2.5%.
Polar Capital Technology Trust, Scottish Mortgage, IMI, Persimmon, Spirax Group, Computacenter, Pershing Square Holdings, Persimmon, Weir Group, Tesco and Halma were among the notable losers from other sectors.
Bank stocks Natwest Group and HSBC Holdings drifted lower, while Standard Chartered, Lloyds Bank moved modestly higher.
Energy stocks Shell and BP drifted modestly lower.
German stocks Infineon and Siemens Energy both shed about 5%. Vonovia, Volkswagen, Siemens, Heidelberg Materials, Deutsche Bank, Munich RE, Porsche Automobil Holding, Commerzbank, RWE, BASF, Hannover RE and Daimler Truck Holding lost 1%-2.5%.
SAP moved up 2.7%. Deutsche Telekom gained 1.5%, while Qiagen, Bayer and Deutsche Boerse climbed nearly 1%.
In the French market, STMicroelectronics plunged 9%. Renault shed 4.7%, while Legrand, Schneider Electric and Stellantis lost 3.8%-4%.
Michelin, Hermes International, ArcelorMittal, Engie, Societe Generale, Saint Gobain, Edenred and Vinci also drifted notably lower.
Capgemini surged 4%. Dassault Systemes climbed nearly 3%. Eurofins Scientific, Sanofi, Teleperformance, Pernod Ricard, EssilorLuxottica, Danone, Accor and Thales gained 1%-2%.
In economic news, the S&P Global Flash Germany Composite PMI fell to 48 in June 2026 from 48.8 in May, missing market expectations of 49.9. The reading signaled a third consecutive month of contraction in private-sector activity and the steepest decline since December 2024.
Germany's Services PMI fell to a 43-month low of 46.8 from 48.1. The manufacturing output expanded at a slightly faster pace with the PMI score coming in at 50.8, up from 50.4 a month earlier.
Survey results from the statistical office INSEE showed confidence among French manufacturers decreased in June and returned to its long-term average.
The manufacturing confidence index dropped to 100.0 in June from 100.2 in May. The score was forecast to fall to 101.0.
Further, the survey showed that the overall business confidence index, which is calculated from the responses of the business managers from manufacturing, construction, services, retail, and wholesale trade, improved to 94 in June from 93 in May.
Data from S&P Global showed France's flash Composite PMI rose to 47.6 in June from 44.9 in May, surpassing market expectations of 46.0, driven by a return to growth in manufacturing activity and a softer contraction in the services sector
The manufacturing PMI for June came in at 50.7, up from 49.7 in May, while the Services PMI moved up 47.4 from 44.3%.
According to a flash estimate the S&P Global UK Composite PMI eased to 49.4 in June from 49.7 in May, a second month of contraction following 11 months of expansion in the British private sector activity. The PMI was expected to come in at 50.6.
The Services PMI dropped to 48.7 in June from 49.3 a month earlier, while the Manufacturing PMI score came in at 53.6 for June, up from 52.2 in May.
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