European stocks decline with focus on companies’ earnings

European stocks fell on Tuesday as investors remained cautious ahead of the release of US consumer price data, which is one of the decisive factors in determining the path of the Federal Reserve (the US central bank) regarding interest rates, and as they focused on evaluating the results of companies’ operations that were released earlier on Tuesday. .

According to Reuters, by 0806 GMT, the European STOXX 600 index fell 0.2% from its highest level in two years, with technology stocks that are highly sensitive to interest rates recording the lowest level in a week, down 1.3%.

All eyes will be on the US January CPI, due at 1330 GMT, which will help shape investors’ expectations about when the central bank is likely to cut interest rates.

The results of the ZEW Institute’s survey of corporate sentiment in Germany and the euro zone are scheduled to be released at 1000 GMT.

TUI shares rose 6.7% to the top of the STOXX 600, as the largest travel and tourism company in Europe announced better-than-expected numbers in the first quarter after turning to profit on the back of strong demand.

ThyssenKrupp Nocera shares rose five percent after the German hydrogen company’s quarterly sales rose by more than a third, which it attributed to growing demand for electrolysis technology.

Randstad shares rose 0.2% after the Dutch recruitment company’s core profits in the fourth quarter of the year were in line with market expectations.