Europe open: Basic Resource shares weigh on indices

European stocks began the day moving lower with investors still wary due to the multiple political risks that were still on the table and amid signs of further delays to fiscal stimulus in the States.

As of 1000 GMT the benchmark Stoxx 600 was off by 0.89% to 378.04, alongside falls of 0.37% in the Dax to 12,064.70 while the Cac-40 was 0.99% lower to 5,020.94.

Basic Resources is faring worst, with the Stoxx 600 gauge of companies in the sector down by a steep 2.57% to 406.45 as investors brushed off data published on Monday showing China's economy grew at annualised clip of 6.9% over the first three months of the year.

"Calls for a negative open come after a mixed return by Asian investors following the long Easter weekend, at odds with last night’s positive close on Wall Street. Geopolitical concerns may be off the boil and safe haven assets off their best, but they continue to simmer be it from a nuclear standpoint on the North Korean peninsula or politically in France and Turkey and across the Atlantic with the US Treasury secretary suggesting Healthcare bill problems will delay tax cuts," said Mike van Dulken, Head of Research at Accendo Markets.

Still ahead on the economic calendar for Tuesday are US housing starts data for March at 1330 GMT, followed by industrial production figures referencing the same month at 14:15 GMT.

Shares in Deutcshe Telekom are little changed, rising by 0.04% even after the US telecoms regulator, the FTC, said last week its T-Mobile unit was among the top four buyers of spectrum in a $19.8bn auction.

Macquarie has offered to purchase a 15% stake in Atlantia's Autostrade per l'Italia unit, Il Sole 24 Ore reported.