FXstreet.com (Barcelona) - European stock markets have opened Tuesday's session on a slight sell tone, as weaker financial sector has outbalanced upbeat corporate earnings in the U.S. Euro and Pound hold Asian session's gains.
Eurostoxx 50 Index trades 0.50% down, while Geman DAX index drops 0.55% and the French CAC Index declines 0.45%. In the UK, the FTSE Index edges down 0.3% in the first hours of trading.
In a very light European session, wit absence of key macroeconomic data, bank's shares have dropped as Qatar made public its intention to sell a stake on Barclays PLC. Furthermore, Dutch food retailer Royal Ahold NV shares dropped 2.8% after releasing a lower than expected 4.3% increase in third-quarter sales.
On the macroeconomic front, UK mortgage lending rose modestly in September, GBP12.5 billion on the month, following a GBP12.3 billion increase in August, although house buying remains at very low levels, as mortgage lending dropped 27% from September last year.
Euro and Pound, below session highs
EUR/USD has retreated from 1.4995 year to date high reached during Asian session, although the pair remains above 1.4950 session low, so far, which is being tested at the moment.
GBP/USD has eased from 1.6445 high to session low art 1.6350 where the 50 hour SMA has hold the Pound, which trades at 1.6390 at the moment.
USD/JPY decline from 91.10 high on Monday has found support at 90.05, and the pair has picked up t 90.35 area, Monday's low and 100 hour SMA, which is being tested at the moment.