LONDON (The Deal) -- European stocks fell on Tuesday, tracking Asia lower on China inflation worries and amid a mixed batch of corporate earnings news.
In London the FTSE was 0.35% lower at 6,273.27, while in Paris the CAC 40 slid 0.30% to 4,896.23. In Frankfurt, the DAX retreated 0.47% to 10,764.81.
A selloff in Asia got the trading day off to a grumpy start, after data showed that China's consumer inflation slowed in October, while producer prices registered their 44th straight monthly drop. The Shanghai Composite Index finished the day 0.19% lower after falling as much as 1.1%.
Meanwhile in London, shares were led lower by Wolseley (WOSYY) , a specialist distributor of heating and plumbing materials. Shares fell 4.6%, as a 20.8% first-quarter slump in first-quarter U.K. trading profit overshadowed a 6.9% gain in the United States.
Wolseley said it expects to make continued progress in 2016 but had no update to the outlook issued in late September, when it predicted like-for-like revenue growth of about 4% in the second half.
Food retailers Tesco (TSCDF) and Morrison Supermarkets were also both down, on ratings downgrades from analysts at Deutsche Bank. Tesco fell 3.2%, while Morrison erased 3.36%.
Mining company Anglo American (AAUKY) shed 3.6%, fresh concerns about a slowdown in China stoked fears about the impact on the commodities sector.
Among gainers, Experian (EXPGY) climbed nearly 6% after the information services company predicted full-year organic revenue in the mid-to single digits along with "stable" margins on the back of its half-year results report.
Vodafone (VOD) - Get Report rose 4.38% the mobile-phone maker posted better-than-secod-quarter results. The company also updated its full-year guidance, with CEO Vittorio Colao speaking of an "important turning point" for the group with a return to organic growth in service revenue, and amid significant investments in high-speed mobile and fixed networks.
National Grid (NGG) - Get Report rose 1.71% after the operator of the U.K.'s electricity and natural gas posted strong first-half results. It also announced plans to sell a majority stake in its domestic gas grid, likely by early 2017, to focus on faster-growing businesses.
The company promised to return "substantially all net proceeds from the sale to shareholders, and said it expects to grow its total regulated and other assets at around 5% a year over the next few years.
British broadcaster ITV and Prudential were also both up after posting quarterly results.
On the mainland, telecom company Ericsson (ERIC) - Get Report shed 4.14% in Stockholm after trimming its forecast for the network equipment market, predicting average growth of 1% to 3% a year through 2018 while the overall telecoms market is projected to grow 3% to 5% a year. It released the forecast ahead of a capital markets pow-wow with investors in Stockholm.
And in Frankfurt, Deutsche Lufthansa (DLAKY) fell 1.66% amid a costly cabin crew strike the carrier said will result in 136 cancelled flights on Tuesday. Late on Monday, a union rejected a sweetened pay offer aimed to end the carrier's longest-ever strike action.
In other news, the Dutch government announced plans to raise up to €4.3 billion ($4.62 billion) in an IPO of the nationalized ABN Amro Group, with plans to sale up to 216.2 million shares if an overallotment is exercised.
Michael Enthoven, chairman of the Netherlands' NL Financial Investments agency, said in a statement that interest from investors "is encouraging," and said the agency is confident the company "is well positioned for a stable future as a listed company."
IPO fever was also catching on in Mumbai, where shares of IndiGo airline operator Interglobe Aviation Ltd. jumped 14.83% in their trading debut as investors gobbled up shares of India's largest airline.
The carrier, co-founded by former US Airways CEO and chairman Rakesh Gangwal, and former travel agent Rahul Bhatia, raised about 40 billion rupees ($450 million) after pricing shares at the top end of the range. The offering is reportedly the first by an Indian airline in nearly a decade.
Elsewhere in Asia, the Hang Seng dropped 1.43% to 22,401.70 in Hong Kong, while the Nikkei bucked the negative trend to inch up 0.15% to 19,671.26 in Tokyo.