European Shares Slip Into Red After Positive Start

(RTTNews) - European stocks slipped into the red on Tuesday after opening on a firm note earlier amid Ukraine war developments.

The U.K. unemployment rate remained unchanged at 4.4 percent in the fourth quarter, while France's consumer price inflation climbed to a five-month high of 1.7 percent in January from 1.3 percent in December amid higher costs for energy and services, separate set of data showed today.

Elsewhere, German ZEW sentiment data is expected to signal improving outlook despite lingering economic uncertainty.

The pan European STOXX 600 was marginally lower at 555.38 after gaining half a percent in the previous session.

The German DAX slipped 0.1 percent, France's CAC 40 shed 0.2 percent and the U.K.'s FTSE 100 was little changed with a negative bias.

Defense stocks extended gains from the previous session on expectations of increased military spending in the region.

Sweden's Saab added nearly 3 percent, Italy's Leonardo was up 1.5 percent and Germany's Thyssenkrupp soared 4.7 percent.

French oil major TotalEnergies and industrial gases firm Air Liquide were little changed after they have committed investments over 1 billion euros in electrolyser projects.

Automaker Renault edged up slightly after signing a framework agreement with Geely Holding Group for a new strategic cooperation in Brazil.

Capgemini plunged nearly 8 percent as the IT consulting group reported a 2 percent drop in its annual constant currency sales.

Vaccine producer Valneva SE surged 5.8 percent after reporting in-line 2024 revenue and cash figures.

Mining giant BHP down was down about 1 percent in London after posting a decline in interim profit.

Peer Antofagasta rallied 2.2 percent. The company backed its FY25 outlook after reporting strong 2024 performance with 5 percent revenue growth and a widened EBITDA margin at 52 percent.

CTS Eventim surged 2.4 percent. The company said its 2024 revenue grew by 19 percent, driven by both its ticketing and live entertainment segments.

IHG fell 2.2 percent. The global hospitality leader announced the acquisition of the Ruby brand from Ruby SARL for an initial purchase consideration of €110.5 million (approximately $116 million).