European markets were up in mid-morning trading despite a raft of data indicating the eurozone economy is feeling a pinch in the post-Brexit vote climate.
Eurozone economic and business confidence have declined in August. Business sentiment fell sharply to 0.02 in August from 0.38 in July. Economist has been expecting a reading of 0.36. The reading was the first full month since the U.K. voted to leave the European Union.
Industrial confidence in the single currency zone fell dramatically to minus 4.4. from negative 2.6 in July as manufacturers reported a worsen in demand. Economist had been expecting a reading of minus 2.7.
Services confidence fell to 10 in August from 11.2 and the economic sentiment indicator for August fell to 103.5 from 104.6 in July. Economists had been expecting a reading of 104.1.
In London, the FTSE 100 was up 0.13% at 6,846.73.
Braemar Shipping Services saw shares fall 8.9% in morning trading after issuing a profit warning. The shipping company today warned that its annual results would be "materially lower" than last year.
There has been a slowdown in demand in the tanker sector, Braemar's biggest market, forcing down revenues. The company has introduced a cost-cutting program to help offset the declines.
BHP Billiton (BHP) shares dropped more than 2% in morning trading in London after the findings of an investigation of the fatal Samarco dam collapse was released.
The report into the collapse at the Brazilian mine owned by BHP and Vale found that drainage and design issues were the cause of the disaster. The report, commissioned by the two companies, said less efficient drainage was a contributing factor to the dam's failure.
In Frankfurt, the Dax gained 1.01% to 10,650.47 and the Cac 40 was at 4,467.14, 0.97% up.
A key indicator out of Switerland showed the outlook for the Swiss economy dropped more than expected in August. Thinktank KOF's economic barometer fell to 99.8 in August from 103.55. Economists were expecting a decline to 102. This was the first time the reading fell below 100 this year.
The SMI was recently up 0.37% at 8,214.67.
Oil prices were on the rise in morning trading. West Texas Intermediate was up 0.83% to $47.37 and Brent Crude was up 0.81% at $49.66 a barrel.
Futures were steady with the Dow Jones Industrial Average mini futures up 0.02% and S&P 500 mini futures down 0.05%.