European stocks open flat, healthcare losses erase impact of mining gains

European stocks started trading on Tuesday with a relatively stable performance. Mining stocks experienced gains, partially offset by losses in healthcare stocks. Investors are anticipating the European Central Bank’s upcoming monetary policy meeting.

As of 0822 GMT, the European STOXX 600 index settled at 472.66 points. Industrial and precious metals companies’ shares rose 1.4 percent, driven by an increase in metal prices following reports that Chinese authorities are considering mobilizing around two trillion yuan ($278.98 billion) to stabilize the metals market.

Industrial stocks saw gains, with Schindler Holding shares rising 2.2 percent after Jefferies Financial Group upgraded its recommendation for the Swiss elevator maker’s stock to “buy” from “hold.”

On the downside, healthcare stocks fell by 0.36 percent, impacting the overall index. Swatch stock declined by 3.4 percent after the world’s largest watchmaking company failed to meet market expectations for its 2023 results.

Investors are also awaiting the release of preliminary estimates of consumer confidence in the euro zone later in the day.