(Reuters) -European shares were flat on Tuesday as losses in industrials and healthcare stocks offset gains in energy and luxury heavyweights, while French stocks stabilised a day after getting rocked by political turmoil.
The pan-European STOXX 600 held steady at 570.2 points by 0713 GMT. French stocks were also flat after Monday’s sharp fall following Prime Minister Sebastien Lecornu’s sudden resignation.
The outgoing PM is starting two days of last-ditch talks on Tuesday with members of various parties.
Heavyweight health care stocks dipped 0.6%, with Germany’s Bayer and Denmark’s Novo Nordisk down about 2% each.
Top defence companies, including Rheinmetall and BAE Systems lost about 1% each, dragging the main index lower.
Oil and gas got a boost with a 1.9% gain in Shell after the energy major flagged higher liquefied natural gas production and better gas trading results for the third quarter.
Morgan Stanley upgraded its rating on luxury giants LVMH and Kering to “overweight” from “equal weight”, sending their shares up 1.8% and 2.2%, respectively.
B&M dropped about 15% after the discount retailer forecast a 28% plunge in first-half core earnings and lower annual profit.
(Reporting by Shashwat Chauhan in Bengaluru and Amir Orusov in Gdansk; Editing by Harikrishnan Nair)
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