Stocks in Europe failed to hold early gains on Tuesday, with both the STOXX 50 and the STOXX 600 hovering around the flatline after modest advances in the previous session.
Consumer discretionary, travel and leisure dragged on the indices, while defense stocks posted gains.
SAP (-1.5%), LVMH (-0.7%), Hermès (-0.5%) and HSBC Holdings (-0.3%) traded in the red.
Beazley slumped nearly 10%, marking the sharpest drop on the STOXX 600, after lowering its written premium outlook.
On the upside, ABN AMRO rose more than 4% after announcing plans to cut 5,200 jobs by 2028 to streamline operations and cut costs.
Kingfisher jumped 4.8%, placing it among the top performers on the STOXX 600, after lifting its full-year profit forecast. Meanwhile, traders were keeping a close eye on developments in Ukraine, where leaders of the “coalition of the willing” were scheduled to hold a conference today to discuss potential peace talks.