(Sharecast News) - European shares were still mixed at midday on Tuesday as investors paused for breath after the bank and defence-stock rally in the previous session.
The pan-regional Stoxx 600 index was up 0.09% to 572, nudging towards record territory. Germany's DAX was down 0.09%, France's CAC 40 gained 0.14%, Spain's IBEX was flat and Italy's FTSE MIB rose 0.89%.

Britain's FTSE 100 increased by 0.18% despite data showing UK government borrowing last month rose to its highest amount in five years, putting pressure on Finance Minister Rachel Reeves ahead of her budget next week.

Public sector net borrowing hit £20.2bn in September, up £1.6bn year on year, the Office for National Statistics said. Economists had forecast a figure of £20.8bn.

"European markets have kicked off on a somewhat indecisive tone, as fiscal concerns dominated headlines," said Marketscope analyst Joshua Mahony.

"The (UK) figures add pressure on Reeves ahead of next month's autumn budget, where she is expected to announce tax hikes and spending cuts totalling at least £20-30bn."

"Meanwhile, in France, S&P Global downgraded the country's credit rating to A+ from AA-, citing persistent fiscal strains and weak deficit reduction progress. Setting the two narratives against each other, there is clearly an ongoing narrative around fiscal instability and soaring debt levels that is not just a US-centric issue."

In equity news, shares in Edenred surged after the French voucher and benefit cards provider's third quarter sales beat forecasts.

Lab testing firm Eurofins Scientific slumped after results.

Reporting by Frank Prenesti for Sharecast.com

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