Positive economic news in Europe fails to pull indices higher on Tuesday. In the U.K. data shows that inflation slowed in December to the Bank of England¿s target rate of 2% for the first time in more than four years while in the 17-nation euro zone industrial output rebounded unexpectedly strongly in November after a decline the month before, according to the European Union¿s statistics arm. Indices are likely to take their afternoon cue from today¿s report on U.S. retail sales in December, which is out at 8.30 a.m. local time in Washington.

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