LIVE MARKETS-STOXX steadies, questions over Unilever

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STOXX STEADIES, QUESTIONS OVER UNILEVER

Reports of talks in Germany to quickly approve billions of defence spending supported European shares at the open on Tuesday with arms stocks once again among the leading gainers.

Their surge, along with strength in banks .SX7P, coming just as bond yields rose, propped up by bets of more issuance to fund defence purchases, offset concerns over intensifying Sino-American tech tensions.

As a result, the region wide STOXX 600 edged up 0.1%.

In London, Unilever ULVR.L fell around 2%, briefly topping FTSE fallers after the surprise resignation of its CEO, raised questions about strategy and performance.

"We would see this creating much uncertainty on: the performance in 1Q; what it means for strategy, esp M&A; what now for additional cost cuts..." wrote Jefferies.

(Danilo Masoni)

EARLIER ON LIVE MARKETS:

EUROPE BEFORE THE BELL: CHIPS AND DEFENCE FOR BREAKFAST CLICK HERE

SEA OF RED AS US-CHINA TECH WAR RATCHETS UP CLICK HERE