European markets were mostly lower Tuesday, with the notable exception of Madrid’s IBEX, which added 0.29 percent to 15,153.8.
In Paris, the CAC-40 dropped 0.43 percent to 6,099.21, while the Dax was 0.83 percent lower in Frankfurt to close at 8,038.21.
The FTSE Eurofirst 300 was down 0.49 percent to 1,622.34.
Vallourec (Euronext: VK) was the best performer on the CAC-40, adding 0.92 percent to €220.75 on rumors that Arcelor Mittal (Euronext: MT; NSYE: MT) might be interested in making a bid.
Other gainers on the day included foods group Groupe Danone (Euronext: BN; NYSE: DA), which was 0.56 percent higher to €57.08.
In the pharmaceuticals sector Schering (FWB: SCH) gained 0.34 percent to €104.60.
Chemicals group BASF (FWB: BAS; LSE: BFA; NYSE: BF) was up 0.23 percent to €99.46.
Utilities were mixed, with EDF (Euronext: EEN) 0.27 percent higher to €78.95, while Suez (Euronext: SZE; NYSE: SZE) dropped 1.11 percent to €41.16.
Banks were also mixed on the session.
In Paris Credit Agricole (Euronext: ACA) added 0.2 percent to €30.11 and Societe Generale (Euronext: GLE) was 0.75 percent higher to €139.79, but in Frankfurt Commerzbank (FWB: CBK) fell 1.41 percent to €34.94.
Carmakers saw losses on the day.
Renault (Euronext: RNO) dropped 1.21 percent to €115.74 for the worst performance of the session in Paris, while BMW (FWB: BMW) fell 1.45 to €39.90 in Frankfurt.
BMW declined even though Morgan Stanley (NYSE: MS) raised the carmaker’s target share price.
In addition, truck maker Man (FWB: EDF1) was 1.49 percent lower to €110.10.
Other losers on the session included oil company Total (Euronext: FP; NYSE: TOT), which was down 1.09 percent to €61.62 on a broker downgrade from “buy” to “hold”.
Media group Lagardere (Euronext: MMB) fell 1.2 percent to €62.60.