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LONDON — European markets were mostly lower on Tuesday morning, as investors assessed incoming corporate earnings reports and awaited a key U.S. inflation print.

  • by Ema Timahe

EUROPEAN MARKETS TICKER COMPANY PRICE CHANGE %CHANGE .FTSE FTSE 100 7561.81 -11.88 -0.16 .GDAXI DAX 16933.74 -103.61 -0.61 .FCHI CAC 40 Index 7666.26 -23.54 -0.31 .FTMIB FTSE MIB 31325.21 -131.52 -0.42 .IBEX IBEX 35 Idx 9965.4 -19.3 -0.19 The pan-European Stoxx 600 index slipped 0.3% in early trade, with tech stocks shedding 1.9% to lead losses while health care stocks added 0.4%. The continental blue chip index closed the Monday session 0.5% higher, as markets around the world posted gains, with Japan’s Nikkei 225 since briefly crossing the 38,000 mark on Tuesday for the first time since 1990 and the Dow Jones Industrial Average stateside closing the previous day at a fresh record high. On Tuesday, all eyes will turn to the U.S. January consumer price index due out at 1:30 p.m. London time, which will be closely watched by the Federal Reserve as policymakers, deliberate over the trajectory of interest rates. Headline inflation is expected to come in at 0.2% month-on-month and 2.9% annually, according to economists polled by Dow Jones. Core prices — which exclude volatile food and energy components — are expected to have risen 0.3% in January and 3.7% from the previous year. Back in Europe, the ZEW economic sentiment survey for Germany and the euro zone is due at 10 a.m. London time. The regional Stoxx index has recorded a muted February so far, following a strong end to January. That’s despite big movements in individual stocks, as company results roll in. This week will see reporting from several major European businesses, including Heineken, Airbus, Renault, NatWest and Commerzbank. Investors may pay particular attention to consumer stocks and what they suggest about the strength of certain economies, as central banks monitor the state of growth and inflation. Biggest movers: Michelin up 5%, Hellofresh down 4% Michelin shares climbed 5% in early trade to lead the Stoxx 600 after the French tyre manufacturer posted a record annual profit and announced a new share buyback program. The group posted an operating income of 3.57 billion euros ($3.84 billion) for 2023, ahead of a 3.42 billion company-compiled consensus forecast. At the bottom of the European blue chip index, German meal kit delivery company Hellofresh fell 4%.

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