Europe Stocks Slightly Lower, FTSE 100 Higher

By Yomna Yasser On May 1, 2012

European stocks were slightly lower on Tuesday, as most bourses were closed for May Day.

The Stoxx 600 index (XX:SXXP) -0.05% was marginally off at 257.19, with oil firms adding the most pressure. BP PLC (UK:BP) -2.90% s: bp] gave up 2.1% following its report of a 12.8% drop in first-quarter adjusted profit.

BG Group PLC (UK:BG) -0.31% lost 0.3%.

The U.K. FTSE 100 index, the only major country-specific index open, traded 0.2% higher at 5,750.83. Banks helped lift the index and Lloyds Banking Group PLC (UK:LLOY) +1.81% LYG -1.51% took on 1.9%, while Royal Bank of Scotland Group PLC RBS -0.38% (UK:RBS) +0.70% added 1.5%, Market Watch reported.

Among other notable gainers in Europe, Chemring Group PLC surged 16% after a contract award.

BG Group BP FTSE 100 Lloyds Banking Group Money Markets Royal Bank of Scotland Group Stoxx 600