European markets fell on Tuesday after a slew of large-cap earnings reports fed uncertainty about the corporate outlook.

Mining stocks also declined after copper slipped and the Caixin Chinese purchasing managers' index for the manufacturing sector unexpectedly fell in April.

In London, the FTSE 100 was recently down 0.64% at 6,201.83, with Anglo American and Glencore among the decliners.

In Frankfurt, the DAX sank 1.45% to 9,976.86 amid a cross-sector parade of disappointing earnings updates. In Paris, the CAC 40 shrank 1.14% to 4,392.07.

S&P 500 mini futures were recently down 0.54%.

It was a mixed day for banking stocks.

UBS (UBS - Get Report) fell almost 6% in Zurich after a disappointing turnout from its wealth management division pushed first-quarter net profit down more than expected. Wealth management is the bank's favored unit as, in common with many European peers, it pares back its investment banking operations.

In Frankfurt, Commerzbank (CRZBY) plunged about 6% after reporting a more-than-halving of first-quarter profit.

But in Paris BNP Paribas was up more than 2% after beating analysts' earnings estimates for the first quarter because of lower-than-expected provisions and an accounting gain.

In London Europe's largest bank, HSBC, (HSBC)  had lost early gains to trade marginally lower by mid-morning after its first-quarter profit fell less than expected.

Also in London Aberdeen Asset Management dropped close to 5% after it reported that investors had pulled out ¿16.7 billion ($24.6 billion) of assets over the past six months and that pretax profit had more than halved to ¿98.8 million.

Takeout food company Just Eat (JSTLF) (JSTTY) rose 8% in London after lifting its 2016 earnings and revenue guidance.

Fashion group Hugo Boss (BOSSY) fell more than 2% in Frankfurt after reporting a 3% decline in first-quarter sales and a 29% slump in Ebitda after what it described as a "very challenging" start for premium apparel makers. It is responding by cutting expenditure by €50 million ($58 million), closing under performing stores, slowing retail expansion, trimming its product portfolio and rejigging its U.S. distribution strategy.

The one bright spot for Hugo Boss was China, where it said price "adjustments" and online marketing have boosted demand.

BMW (BAMXY) was down close to 4% in Frankfurt as earnings slipped more than expected in the first quarter even though car sales rose to a record.

Airline Lufthansa (DLAKY) was down more than 6% in Frankfurt after reporting a 0.8% decline in first-quarter revenue, a narrowing of its quarterly loss and reiterating its full-year forecast for a slight improvement in full-year Ebit from 2015. But the airline said it sees no letup in pricing pressure in the passenger and cargo sector and plans to cut capacity.

Asian stocks were mixed.

The S&P ASX 200 closed up 2.11% in Sydney at 5,353.84 following the Reserve Bank of Australia's quarter-point rate cut to 1.75%. The Australian dollar pared initial steep losses in the immediate aftermath and was recently down 0.68% against the U.S. dollar.

In Hong Kong, the Hang Seng closed down 1.85% at 20,676.94.

On mainland China the CSI 300 composite closed up 1.80% at 3,213.54 after President Xi Jinping's pledged to support the "healthy development" of Chinese equity markets.

Tokyo markets are closed for a three-day public holiday and will reopen on Friday.