European markets open lower on Tuesday

European markets opened lower during the morning hours on Tuesday after Chinese and German trade data came in below expectations. 
 
The FTSE 100 index was trading at 7,523 levels, lower by 8.81 points; CAC 40 index was at 5,193 levels, down by 14.53 points; while the German DAX was at 12,238 levels, down by 18.47 points. The pan-European Stoxx 600 was down by 0.14 % with almost all the sectors.
 
Asian equities showed lower than expected imports and exports from China in July. In renminbi terms, exports grew 11.2% and imports rose 14.7%. Steel and iron ore prices rose again following the data, which could push basic resources’ stocks in Europe higher at the open.
 
Investors are also digesting trade data from Germany and France. Exports dropped by 2.8 % month-on-month in June, while imports were down by 4.5 %. 
 
In the business world, Worldpay and Savills will present their latest figures on Friday. Standard Life reported a 6% increase in operating profits in the first half of the year, above the market expectations, as it nears a completion of a merger with Aberdeen Asset Management.