European stock markets ended lower on Tuesday, recording their first negative month since October, after a series of earnings reports and data dampened investor sentiment.
The regional Stoxx 600 ended the day down 0.6%, with all major exchanges in the red.
Most sectors fell, with automobiles down 4.3% and basic resources down 1.14%. Healthcare stocks were among the only positive sectors, closing 0.2% higher.
Preliminary data showed that euro zone inflation stabilized at 2.4% in April, in line with expectations. Core inflation, which excludes energy, food, alcohol and tobacco, was 2.7%.
Meanwhile, the region’s gross domestic product grew 0.3% in the first three months of this year, after contracting 0.1% in the fourth quarter of 2023.
In April, the Stoxx 600 fell 1.49%, its first monthly loss since October.
Overnight, Asia-Pacific markets rose sharply on Tuesday, following Wall Street trends as investors digested China’s manufacturing purchasing managers’ index for April.
Meanwhile, U.S. stocks fell on disappointing earnings and inflation data. Investors this week are awaiting earnings from large-cap stocks, the latest Federal Reserve interest rate decision on Wednesday, and the jobs report.
The Fed is widely expected to keep interest rates steady, but traders will be watching to see whether Fed Chairman Powell’s post-meeting comments become more hawkish following a recent series of hotter inflation reports.
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