RTTNews - The major European markets may open higher after falling over 1% in the previous session. A rebound in oil and metal prices may lend support to resource-related stocks, while investors look forward to British industrial production and German factory orders reports for signs of recovery. Asian stocks exhibited a mixed trend on Tuesday amid bargain hunting and concerns over the state of the global economy.

U.K. industrial output is estimated to grow 0.2% month-over-month in May, following a 0.3% rise in April. Manufacturing output is also forecast to grow 0.2%. Meanwhile, German May factory orders are expected to rise 0.5% from the prior month after staying flat in April.

The Statistics Estonia announced that the consumer price index or CPI dropped 0.9% year-over-year in June, compared with a 0.3% fall in May. Separately, Germany's Federal Statistical Office said in a report that the raw steel production in metallurgical plants declined 41% year-over-year to 2.47 million tones in June, compared with a 47.7% fall in the previous month. At 2.45am ET, the French trade balance is due. The trade deficit is expected to widen to EUR 4 billion in May from EUR 3.8 billion last month.

On Wall Street, the major U.S. averages closed mixed on Monday after a sharp move to the downside in early trading. Traders shrugged off a report from the Institute for Supply Management which showed that activity in the service sector contracted for the ninth consecutive month in June, although at a slower pace than economists had been expecting. The Dow Jones Industrial Average closed up 0.5% and the S&P 500 index rose 0.3%, but the tech-heavy Nasdaq finished down 0.5%.

Crude oil fell sharply to its lowest levels in nearly two weeks in the New York Mercantile Exchange on Monday, weighed down by rising fuel inventories and concerns over the slow pace of global economic recovery following weak labor data from the U.S. Light sweet crude for August delivery lost $2.68 to close at $64.05 a barrel as trade resumed after a three-day holiday weekend in the United States. In Asian trading on Tuesday, crude oil was last trading firm at $64.25 a barrel.

In corporate news, Shire plc has filed a treatment protocol for velaglucerase alfa, its enzyme replacement therapy in development for the treatment of Gaucher Disease. French video-game maker Ubisoft Entertainment SA will invest more than C$500 million in setting up a Toronto studio, expected to open later this year.

The world's biggest construction company Vinci SA was awarded a contract worth more than 100 million euros from France's Defense Ministry to build a teaching and research facility, 432 studios, residential units and a gymnasium.

Deutsche Bank AG has agreed to sell Worldwide Plaza, a 1.8 million square-foot skyscraper in New York City, for $600 million to developer George Comfort & Sons and partner RCG Longview, The Wall Street Journal reported.

Dechra Pharmaceuticals Plc in its trading update said trading for the year ended June 30, 2009 was in line with management's expectations and added that group revenues were ahead by around 15.0% in comparison with last year. Big Yellow Group Plc said that its total store revenue for the first quarter declined 6% to GBP 13.5 million from GBP 14.3 million last year.

The European markets fell for the third day on Monday, as commodity and banking stocks slipped on concern about the pace of the global economic recovery following last week's disappointing reports on consumer confidence and unemployment. The FTSEurofirst 300 index of pan-European blue chips closed 1.13% lower, while the narrower DJ Stoxx 50 index fell 1.05%. Around Europe, the U.K.'s FTSE 100 index fell 0.98%, France's CAC 40 index slipped 1.20% and Germany's DAX index dropped 1.20%.

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