Europe open: Stoxx down as traders assess US-Sino tariff talks

(Sharecast News) - European shares were lower at the open on Tuesday amid a dearth of major corporate or economic news to drive sentiment.

The pan-regional Stoxx 600 index was down 0.17% to 556 at 0820 BST with major continental bourses following suit. Eyes are still firmly on interest rate decisions from the US Federal Reserve and Bank of England.

Traders were also assessing US President Donald Trump's claim that tariff talks with China had made progress. The news sent the S&P500 and Nasdaq indices to record highs.

On the economics front The UK unemployment rate was unchanged in July, official data showed on Tuesday, in line with expectations, while wage growth cooled.

According to the Office for National Statistics, the rate was estimated to be 4.7% in May to July. The employment rate was 75.2%.

The number of payrolled employees softened, however, by 142,000 year-on-year in July, and by 6,000 month-on-month.

Earnings, meanwhile, ticked lower. Annual growth in employees' average earnings, excluding bonuses, was 4.8%, down slightly on June's 5% although it was in line with expectations.

Reporting by Frank Prenesti for Sharecast.com