European stocks cautious ahead of Yellen, Brexit polls

The European equity markets took a breather and traded modestly flat this Tuesday, having booked the biggest one-day gain since August 2015 a day before, in wake of a shift of votes in favour of the ‘Remain’ camp.

Moreover, sell-off across the commodities’ space weighed heavily on the miners as well as on the oil producers. While the region’s indices find some support from upbeat ZEW survey and pro-ECB verdict announced by Germany's Constitutional Court ECB’s Outright Monetary Transactions (OMT) program.

Meanwhile, Germany's DAX 30 index trades +0.06% at 9,966 points, while the UK’s FTSE declines -0.24% to 6,188. Among the other indices, the French CAC 40 index advances +0.16% to 4,347 levels, while the pan-European Euro Stoxx 50 index gains +0.19% to 2,951 points.

Looking ahead, the Fed Chair Yellen’s testimony before the Senate Banking Committee remains in focus, while markets await upcoming opinion poll results for fresh insights ahead of the June 23rd Brexit vote.