Europe midday: Stocks try to find their footing after enduring sell-off
European stocks were slightly steadier on Tuesday after enduring a sell-off over the previous three sessions and despite weakness in the travel and insurance sectors over concerns of new coronavirus restrictions in the UK and higher claims provisions.
At 1230 BST, the pan-European STOXX 600 index rose 0.55% to 358.77, alongside a rise of 0.9% for the German Dax taking it to 12,654.74 while the FTSE Mibtel was up 1.04% at 18,989.89.
UK Prime Minister Boris Johnson was set to announce new restrictions including closing pubs, bars, restaurants and other hospitality venues at 10pm across England as the number of novel coronavirus cases increases.
Pub owners JD Wetherspoon, Mitchells & Butlers and Marston's all fell on the news.
Premier Inn-owner Whitbread dropped after announcing 6,000 job cuts in its hotel and restaurant units, as the pandemic battered the travel and hospitality sectors.
Insurer Beazley fell sharply after it said Covid-19 claims are set to double from the $170m expected in April, mainly due to event cancellation losses. Rivals Direct Line and Hiscox were also lower
B&Q owner Kingfisher rallied after it posted a 23.1% jump in first-half adjusted pre-tax profit thanks to a strong sales recovery in the second quarter as more people took on DIY during the lockdown.
Online supermarket Ocado and food delivery services HelloFresh and Just Eat Takeaway were also in the black as demand for their services was expected to increase amid tighter Covid-19 restrictions.