Brexit chaos rumbles on, economic data in focus


Europe’s banking and insurance sectors led the gains, lifted by Swedbank surging to the top of the European benchmark. Shares of the bank gained almost 6 percent on Tuesday after it was announced Swedish authorities would not investigate money laundering claims made by investor Bill Browder.

At the other end of the scale, Rolls Royce lost almost 2 percent after Singapore Airlines grounded two Boeing 787 jets because their engines, built by the British firm, were wearing out faster-than-expected.

French IT services provider Atos also slumped toward the bottom the index after Berenberg cut its stock recommendation to “sell” from “hold.” Shares of the Paris-listed stock fell more than 2 percent on the news.

Elsewhere, U.K. construction activity slowed for the second consecutive month in March, PMI figures showed. Europe’s construction and materials sector fell into negative territory on the back of the data. London-listed construction firm Balfour Beatty lost almost 1 percent after the data was published.

The euro area is expected to publish unemployment rate data for February slightly later in the session.

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