European shares lifted by real estate stocks; BP drags energy sector
© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 24, 2023. REUTERS/Staff/File Photo BP -0.75% Add to/Remove from Watchlist Add to Watchlist Add Position Position added successfully to:
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(Reuters) - European shares gained on Tuesday, led by real estate and chemical stocks, with investors assessing a slew of economic data, while BP (NYSE:BP)'s weak third-quarter profit weighed on the energy sector.
The pan-European STOXX 600 was up 0.2% by 0826 GMT, but poised for its worst monthly performance since September 2022.
Data showed German retail sales fell in September due to persistently high inflation, while the French economy grew by 0.1 in the third quarter.
The real estate and chemicals sectors gained over 1% each.
The energy sector was the worst hit due to a 4.2% fall in BP after third-quarter earnings missed analysts' forecasts.
Engineering group Wartsila was the top gainer on the STOXX 600 following its third-quarter results.
Siemens Energy fell 2.4% after sources said the company is considering selling a part of its 24% stake in Indian-listed Siemens Ltd to former parent Siemens AG (OTC:SIEGY) to shore up its balance sheet. Siemens AG shares were down 0.2%.
European shares lifted by real estate stocks; BP drags energy sector