FRANCE: European stocks closed lower Tuesday, as investors favored a cautious approach ahead of a European Central Bank monetary policy meeting this week.
The Stoxx Europe 600 index closed 0.9% lower, reversing earlier gains of about 0.2%, which came on the back of figures showing German retail sales rose much faster than expected in January.
Strategists said investors were hesitant to make major bets ahead of the meeting Thursday, especially in the light of recent stock outperformance. A weak tone on Wall Street added to the negativity, with both the S&P 500 and the Dow Jones Industrial Average posting losses of around 0.8% at the European close.
