After the strongest rally in two months, European stock markets showed broad-based losses on Tuesday, as investors stayed cautious ahead of the outcome of the U.S. Federal Reserve meeting on Wednesday.
The Stoxx Europe 600 index dropped 0.4% to 312.34 after rising 1.3% on Monday.
The EZ Economic Sentiment ZEW survey came in at 68.3 from 60.2 previous, while the German equivalent beat forecasts at 62/55. The German ZEW current situation came in at 32.4 against forecasts of 30.
Elsewhere in Europe, the U.K.’s FTSE 100 index dropped 0.5%, while France’s CAC 40 index slid 1%. Germany’s DAX 30 index lost 0.4%.
Shares of CGG tanked 14% after the oil-services firm said it is “operating in difficult market conditions” and fourth-quarter earnings will be impacted by project delays.
Mining firms were also lower, tracking losses for most metals prices. Shares of BHP Billiton PLC dropped 1.1%, Anglo American PLC fell 1.7%, and Glencore Xstrata PLC slipped 0.3%.
Shares of Zurich Insurance Group AG gained 1.6% after the Swiss firm appointed the chief financial officer from fellow insurer Swiss Re AG, George Quinn, as its new financial boss. Swiss Re shares fell 0.5%.
U.K. stocks moved lower on Tuesday even as data showed inflation moved closer to the Bank of England’s target in November.
UK CPI data has registered at 0.1% MoM against expectations of 0.2%, and 2.1% YoY missing forecasts of 2.2%. The Core YoY reading came in at 1.8% against 0.9% previous.
Elsewhere, the DCLG House Price Index bettered 4.2% forecasts at 5.5%.
PPI Input MoM missed, alongside PPI Core Output MoM and YoY, PPI Output MoM and YoY and RPI YoY.
RPI MoM registered in line with expectations at 0.1%, while PPI Input YoY beat forecasts at -1.00%/-1.15%.
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