European Equity Benchmarks Close Mixed

The broad-based major European indices closed mixed in Tuesday’s trading session, as the continental markets closed higher, while the London exchange moved lower. In economic news, U.K. public sector net borrowing (excluding public sector banks) decreased GBP23.4 billion ($30.4 billion) to GBP48.7 billion in the financial year ending March 2017, reports the Office for National Statistics. It is the lowest net borrowing since the financial year ending March 2008. Public sector net borrowing (excluding public sector banks) increased by GBP1.2 billion to GBP10.4 billion in April, compared with April 2016, marking the highest April borrowing since 2014.

Also in the U.K, the seasonally adjusted estimate of the number of residential property transactions decreased 3.2% between March and April, according to HM Revenue and Customs. April’s seasonally adjusted figure is 20.3% higher than the same month last year. However, HM Revenue and Customs said direct comparisons of residential transactions between April 2017 and April 2016 should be avoided due to the unusually low level of transactions in April 2016 as the Easter holiday occurred in April of 2017 but in March of 2016.

In Germany, the gross domestic product rose 0.6% in Q1 from Q4 of 2016 after adjusting for price, seasonal and calendar variations, according to The Federal Statistical Office (Destatis). The quarter-on-quarter comparison shows that positive contributions came from both domestic and foreign demand. Gross fixed capital formation in construction increased 2.3%, which was attributed to the mild weather. Final consumption expenditure of households rose 0.3%, and government final consumption expenditure rose 0.4% from the previous quarter.

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