European markets open mixed; Crude oil retreats after initial gains

Investing.com -- European markets opened mixed on Tuesday, as investors watched corporate earnings and data releases.

At 3:25 ET (8:25 GMT), Germany’s DAX index edged down 0.10%, France’s CAC 40 dipped 0,1%, and the UK’s FTSE 100 climbed 0.4%. Economic data and Central bank commentary

The eurozone’s final consumer inflation reading for October due out later in the morning remains the focal point for the region, as traders await confirmation of price pressures and their potential impact on European Central Bank policy. 

In the U.S., housing data slated for release later in the day is unlikely to shift market dynamics significantly, with attention instead turning to a series of speeches from key central bankers.

Adding to the day’s narrative, Bank of England Governor Andrew Bailey and other officials are set to appear before Parliament. 

They are expected to address concerns about the government’s expansionary fiscal plans and the broader implications of potential U.S. trade policies under former President Trump, who may return to influence global trade dynamics. 

Meanwhile, ECB policymaker Frank Elderson will speak at a green finance forum in Frankfurt, and Riksbank’s First Deputy Governor Anna Breman is scheduled to deliver remarks in Sweden.  Corporate earnings paint a mixed picture

Imperial Brands (OTC:IMBBY ) delivered an upbeat report, posting a 4.6% rise in adjusted operating profit to £3.91 billion for the fiscal year ending Sept. 30. 

This growth was driven by improved profitability in its tobacco and next-generation products businesses, alongside strong performance in its distribution arm. 

Its tobacco division recorded a 2.5% increase in adjusted operating profit, underscoring resilience in its core segment.

Conversely, German industrial giant Thyssenkrupp (ETR:TKAG ) provided a stark contrast, reporting a €1 billion impairment on its Steel Europe division. 

This write-down, attributed to weak demand and structural challenges, contributed to a net loss of €1.5 billion for the fiscal year.  Crude oil prices dip after initial gains from Norway disruption

Crude oil prices traded lower on Tuesday, with gains from the previous session tempered as traders shifted their focus back to market fundamentals. 

By 3:25 ET (8:25 GMT) Brent crude fell 0.3% to $73.11 per barrel, while U.S. crude (WTI) fell 0.4% to $68.92.

The initial boost on Monday, driven by news of a production halt at Norway’s Johan Sverdrup field due to an onshore power outage, began to lose momentum.

Source: Investing.com