The Deal: European Stocks Fall Following Tuesday's Rally

LONDON (The Deal) -- Global stock indices were mixed Wednesday, with European indices largely in the red after Tuesday's rally even as tensions in Ukraine eased.

In London, the FTSE 100 was down 0.41% at 6,796.10, shedding, in common with mainland European peers, some of the ground it recovered on Tuesday after Monday's market rout. In Frankfurt, the DAX slipped 0.30% to 9,560.06 and in Paris the CAC 40 slipped 0.38% to 4,379.33.

U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov are preparing to hold talks about Ukraine after Russia appeared Tuesday to step back from the brink of military intervention in the eastern European country, which has just ousted a pro-Russia government.

Markit Economics' eurozone purchasing managers' output index unexpectedly rose to 53.3 in February from 52.9 in January, above the institute's initial estimate of a slight monthly fall and hitting a 32-month high. Meanwhile the European Union's statistics arm confirmed earlier estimates of fourth-quarter euro-zone GDP, which rose 0.3% on the quarter and 0.5% year-on-year. It also said January retail sales jumped 1.6%, twice the pace of a previous estimate and rebounding from a 1.3% decline in December.

French retailer Carrefour edged higher after posting strong 2011 results and reporting a return to sales growth in its domestic market and a strong performance in Brazil and Argentina. Overall sales rose 2.5% to 74.9 billion euros ($102.8 billion), while net profit rose more than six-fold to 949 million euros.

In Frankfurt, sporting goods maker Adidas fell despite posting strong fourth-quarter results as it warned that adverse currency movements would weigh on sales in the current year and announced a 2014 forecast profit range that lagged expectations.

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