European stock markets retreated on Tuesday, giving back some of the prior day’s gains, as investors waited for clues to the health of two of the region’s biggest economies.
The Stoxx Europe 600 index fell 0.1% to 339.55, on track to break a two-day winning streak.
Shares of Software AG led losers in the pan-European index and tanked 14% after the German software maker cut its 2014 outlook for sales growth at its biggest business.
On a more upbeat note, shares of Danone SA picked up 2.1% after Morgan Stanley lifted the food producer to overweight from equal weight.
Among country-specific indexes, Germany’s DAX 30 index fell 0.2% to 9,767.65, while France’s CAC 40 index slipped 0.1% to 4,344.35. The U.K.’s FTSE 100 index rose 0.1% to 6,753.21.
The small moves came ahead of U.K. inflation data out at 9:30 a.m. in London, or 4:30 a.m. Eastern Time. Germany’s ZEW survey of investor sentiment is due at 10 a.m. London time, and Bank of England Governor Mark Carney testifies before the British parliament’s Treasury Select Committee about the last Financial Stability Report at around 10 a.m. in London. Read: Move over Portugal, Germany is Europe’s real concern this week
In the U.S., Federal Reserve Chairwoman Janet Yellen will kick off two days of testimony to Congress later Tuesday. Read: Yellen’s goal before Congress: Sound optimistic — but not too optimistic
Source : Marketwatch
