European shares saw a dip on Tuesday as investors awaited data on U.S. consumer price inflation. The forthcoming report is anticipated to reveal a further deceleration in inflation rates, with annual inflation predicted to dip below 3 percent for the first time since 2021.
In other news, France's unemployment rate remained unchanged in the fourth quarter after increasing in the last two quarters, according to recent data from the INSEE statistical office. The British pound also gained strength against major currencies following official data indicating a decrease in the UK's unemployment rate during the fourth quarter.
The Office for National Statistics reported that the International Labour Organization (ILO) unemployment rate dropped to 3.8 percent in the fourth quarter from 3.9 percent, beating economists' prediction of 4.0 percent.
Investors also await the German and Eurozone ZEW economic sentiment figures set to be released later in the day. The Pan-European STOXX 600 fell by 0.3 percent to 486.25 after a 0.5 percent increase in the prior session.
Major European indices also witnessed declines; Germany's DAX fell by 0.6 percent, France's CAC 40 by 0.3 percent, and the UK's FTSE 100 by 0.1 percent.
The Dutch staffing firm, Randstad NV, saw its shares rise by approximately 1 percent after announcing a return of 632 million euros ($680.8 million) to shareholders as part of its capital allocation policy.
Travel operator TUI Group enjoyed a 1.3 percent hike after it reported a lesser loss for the first quarter due to an increase in revenue driven by heightened demand leading to improved pricing and rates. The company also reasserted its full-year financial forecast.
Hydrogen company, Thyssenkrupp Nucera, saw its shares increase by 1.4 percent after announcing a more than one-third increase in first-quarter sales due to increased demand for its electrolyser technology.
Irish homebuilder, Cairn Homes, witnessed a fall of nearly 1 percent in its shares following the announcement of Richard Ball's appointment as its chief financial officer, effective April 10.
