European stocks closed slightly higher on the backlash in global markets.Eurofins fell 7%

European stock markets closed slightly higher on Tuesday as market participants awaited the release of U.S. and European inflation data later in the week.

The pan-European Stoxx 600 index ended provisionally 0.2% higher, with most sectors in positive territory.

— Sam Meredith

Shares in French testing agency Eurofins fell 11% as of 11:26 a.m. London time on Tuesday after the company reported lower-than-expected full-year earnings per share.

The company reported adjusted net income of 568 million euros ($616.5 million) and adjusted earnings per share of 2.71 euros, down from 3.43 euros in 2022.

—Jenny Reid

Over the past 12 months, just 11 stocks accounted for half of the gains that drove the pan-European Stoxx 600 stock index to a record high on Friday.

Earlier this month, Goldman Sachs announced that Europe’s stock market is dominated by this group of “internationally exposed, high-quality growth compounders” with the continent’s largest market capitalization, and the bank said it would He emphasized that the group was called GRANOLAS.

The group’s momentum, which includes GSK, Roche, ASML, Nestlé, Novartis, Novo Nordisk, L’Oréal, LVMH, AstraZeneca, SAP and Sanofi, has been compared to the Magnificent Seven, a similar group. caused concern. Concentration risk in European stock markets.

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— Elliott Smith

Shares in Scotland’s Abdon rose 4.8% as of 9am in London after the investment firm said adjusted operating profit fell 5% to 249 million pounds ($315.9 million). did.

According to Reuters, the company’s full-year profit performance exceeded analysts’ expectations.

Interactive Investor, which operates a personal investment platform, saw its net operating income fall by 4% to £1.398bn.

The company has come under pressure in recent years due to a growing customer exodus, and its stock price has fallen over the past four years.

The company said on Tuesday that the cost-cutting program is aimed at reducing costs by at least £150m a year by the end of 2025 and is aimed at restoring the investment business to “acceptable levels of profitability”. It has been announced that approximately 500 roles are expected to be lost. .

It expected adjusted operating expenses to fall by around £60m in 2024 and cash margins to be broadly flat.

—Jenny Reid

Correction: This post has been updated to clarify Tuesday’s job announcement.

Europe’s Stoxx 600 index opened 0.04% higher on Tuesday with sectors trading mixed.

The major exchanges rose narrowly, with Britain’s FTSE 100, France’s CAC 40 and Germany’s DAX all up about 0.1%.

UK retail inflation slowed to 2.5% in February, down from 2.9% in January and the lowest level since March 2022, the British Retail Consortium said on Tuesday.

Non-food inflation held steady at 1.3%, while food inflation slowed to 5% from 6.1%, the 10th consecutive year of decline.

“While supply chain pressure relief is starting to impact food prices, significant uncertainties remain as geopolitical tensions rise.Non-food prices may rise due to changes in import routes. “Cape of Good Hope” said BRC CEO Helen Dickinson.

—Jenny Reid

Stock markets are off to a strong start this year, with the S&P 500 index exceeding 5,000 earlier this month and Europe’s Stoxx 600 index hitting an all-time high.

Looking ahead, the market consensus is “the perfect combination of bullish factors,” said Paul Christopher of Wells Fargo Investment Research, but he’s not sure.

As investors ponder where and how to invest in this uncertain climate, CNBC Pro asked market experts where they recommend allocating $100,000.

CNBC Pro subscribers can read more here.

— Amara Balakrishna

Nvidia isn’t the only star of the artificial intelligence boom. In fact, there’s an even “hotter” boom right now, according to Louis Navellier, chairman and founder of Navellier & Associates.

“It beat guidance,” he said of the stock, “and it’s not currently in the S&P 500. It’s probably going to be added.”

CNBC Pro subscribers can read more here.

— Tan Weizhen

European markets are set to open at Tuesday’s lows.

According to IG data, the UK’s FTSE 100 index is expected to open 13 points lower at 7,671, Germany’s DAX 41 points lower at 17,390, France’s CAC 13 points lower at 7,913 and Italy’s FTSE MIB. It is expected to open 57 points lower at 32,560.

Proceeds will come from Ferrovial, Serco Group, Travis Perkins and Abrdn. The latest consumer sentiment data for France and Germany will be released on Tuesday.

— Holly Ellyatt