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Market Update

European Markets Lower

European markets were lower Tuesday tracking losses in other markets, and ahead of the keenly watched German ZEW Economic Sentiment index.

The FTSE was down 0.6%. The CAC 40 Paris also declined 0.6% while the German DAX was off 0.4%.

Stocks on the Move

Banks were all lower in London with RBS down 1.3% and HSBC half a percent lower.

BNP Paribas also fell about a percent.

In Frankfurt, chemicals major K S AG fell about 3% after S&P lowered its long-term credit rating on the company.