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European Markets Mixed Amid September Drop in German Business Confidence

European stock markets were mixed as a drop in German business confidence stoked fresh concerns about the pace of economic recovery in Europe.

European stock markets were mixed as a drop in German business confidence stoked fresh concerns about the pace of economic recovery in Europe. TNT Express NV slumped in Amsterdam after the parcel delivery company said it’s no longer expecting an adjusted operating margin of 8% for Europe and the Americas next year due to deteriorating conditions in Europe, while Swiss staffing firm Adecco SA fell in Zurich as the staffing company said that the seasonal pickup so far in September has been “slightly weaker” than normal, mainly in Germany and France. Bucking the positive trend, German pharmaceutical company Merck KGaA rose in Frankfurt following a buy recommendation from Commerzbank AG, while mining company Rio Tinto plc advanced in London on a ratings upgrade from Morgan Stanley.

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