KPN, the Dutch fixed-line telecoms group, declined after its 4.4% rise in third-quarter earnings fell just short of market forecasts, despite a strong performance at E-Plus, its German mobile division.

Dexia downgraded the group from “add to neutral, disappointed by dividend outlook and performance of KPN at its fixed-line business. The shares fell 1%.

Oil and gold

Oil prices edged higher Tuesday, recouping some of their losses after plunging more than $2 a barrel the previous day as traders looked to U.S. supply data due out this week that is expected to show rising inventories of crude. Light, sweet crude oil for December delivery climbed 2 cents to $58.38 a barrel in electronic trading on the NYME, after slipping $2.39 Monday to settle at $58.36 a barrel. Brent crude rose 6 cents to $58.74 a barrel on the ICE Futures exchange.

Gold traded at $600.70 an ounce on Tuesday, up $6.80 an ounce from Friday close of $593.90.

In morning European trading, the euro fell to $1.2685, compared with $1.2729 in New York late Monday. The British pound declined to $1.9001 from $1.9020. The dollar rose to 117.75 Japanese yen from 117.41 yen on Monday after the Bank of Japan suggested it would not rush into another rate increase.