(MENAFN- FxPro) European stocks were little changed in choppy trade on Tuesday, as investors remained cautious after a rally in German 10-year bund yields and as concerns over Greek debt negociations persisted.
During European morning trade, the EURO STOXX 50 dipped 0.02%, France's CAC 40 eased 0.05%, while Germany's DAX 30 slipped 0.16%.
German 10-year bund yields rose on Monday. German bund yields act as benchmarks for European financial markets and higher yields push the euro higher against the dollar. Yields rise as prices fall.
Separately, German Chancellor Angela Merkel warned Monday that "there isn't much time left" to reach an agreement on a cash-for-reforms deal needed to unlock more financial aid before Greece runs out of money.
Athens delayed a key debt payment to the International Monetary Fund on Friday, saying it would repay the money along with other payments due this month by the end of June.
Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) gained 0.57% and 0.81%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) rose 0.21% and 0.90%.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) advanced 0.60% and 0.72%, while Spanish banks Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) clinbed 0.43% and 0.44% respectively.
Elsewhere, Syngenta AG (SIX:SYNN) declined for the second consecutive session, with shares down 0.64% after Monsanto Co. said on Monday that it will pay a $2 billion breakup fee if its takeover offer for the Swiss company fails.
In London, commodity-heavy FTSE 100 inched up 0.06%, helped by sharp gains in the mining sector.
Shares in Glencore Xstrata (LONDON:GLEN) climbed 0.44% and Bhp Billiton (LONDON:BLT) advanced 0.61%, while rivals Randgold Resources (LONDON:RRS) and Fresnillo (LONDON:FRES) gained 0.83% and 0.94% respectively.
Meanwhile, financial stocks were mixed. The Royal Bank of Scotland (LONDON:RBS) dipped 0.03% and HSBC Holdings (LONDON:HSBA) declined 0.36%, while Lloyds Banking (LONDON:LLOY) and Barclays (LONDON:BARC) advanced 0.57% and 0.76%.
HSBC Holdings gained ground after saying it was planning on cutting as many as 25,000 jobs through 2017 in a move to cut annual costs by about $5 billion to restore profit growth.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures pointed to a 0.08% uptick, S&P 500 futures signaled a 0.09% gain, while the Nasdaq 100 futures indicated a 0.06% rise.
Later in the day, the euro zone was to release revised data on first quarter economic growth.
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