European stocks ease after rally

Europe's main stock markets eased on Tuesday after rising strongly the previous session, as traders struggled for direction awaiting key US jobs data due at the end of the week. 

Traders largely brushed off news that North Korea had tested its first missile that could reach the United States.

"There wasn't a lot to work with this Tuesday, leading to a rather muted morning for the European indices," noted Spreadex analyst Connor Campbell.

"There does not appear to be anything on the agenda this afternoon to help with such a turnaround," he added.

Wall Street is closed Tuesday for the July 4 holiday.

Around midday, London, Paris and Frankfurt were down between 0.1 and 0.2 percent compared with Monday's closing levels.

On Monday, Paris rallied 1.5 percent and Frankfurt jumped 1.2 percent, helped by positive eurozone manufacturing data and as indices rebounded from some heavy losses seen last week.

Asian markets reversed early gains Tuesday as a sell-off in technology shares overshadowed a record close on Wall Street and a rally in energy firms.

After surging on years of low borrowing costs, the tech sector is suffering selling pressure from profit-taking around the world and increasing talk among central banks that the age of cheap money is coming to an end.

With big-name firms such as Apple and Google parent Alphabet suffering in recent weeks, their Asian counterparts are also feeling the pinch.

The dollar fell against the yen following North Korea's missile test, the latest provocation to ratchet up tensions over its nuclear weapons ambitions.

Investors are awaiting the release Wednesday of minutes from the Federal Reserve's June policy meeting and key US jobs data Friday.

Oil prices were steady as they look to cement a recovery after recently hitting 10-month lows when traders fretted that a pick-up in US output was offsetting cuts by OPEC and Russia.

 - Key figures around 1030 GMT - 

London - FTSE 100: DOWN 0.2 percent at 7,366.10 points  

Frankfurt - DAX 30: DOWN 0.1 percent at 12,457 

Paris - CAC 40: DOWN 0.1 percent at 5,190.80 

EURO STOXX 50: DOWN 0.2 percent at 3,154.66 

Tokyo - Nikkei 225: DOWN 0.1 percent at 20,032.35 (close)

Hong Kong - Hang Seng: DOWN 1.5 percent at 25,389.01 (close)

Shanghai - Composite: DOWN 0.4 percent at 3,182.80 (close)

New York - Dow: UP 0.6 percent at 21,479.27 (close)

Euro/dollar: DOWN at $1.1351 from $1.1363 at 2000 GMT Monday

Pound/dollar: DOWN at $1.2926 from $1.2937

Dollar/yen: DOWN at 113.24 yen from 113.46 yen

Oil - Brent North Sea: DOWN 24 cents $49.71 per barrel

Oil - West Texas Intermediate: DOWN 17 cents at $46.90

source: AFP