European equity markets were mixed on Tuesday, pausing after a strong rally earlier in the session that had pushed several indices to record levels.
The initial surge was underpinned by calmer conditions in commodity markets, signs of easing trade and geopolitical frictions, and expectations that the U.S. Congress will vote on a spending package to end the government shutdown.
Sentiment was also supported by data showing that French inflation unexpectedly slowed to a five-year low last month, reinforcing the view that euro zone inflation could remain below the European Central Bank’s target for longer this year.
By mid-session, Germany’s DAX was up around 0.3%, while France’s CAC 40 was down 0.2% and the UK’s FTSE 100 had fallen 0.7%.
At the stock level, Fortum Oyj moved lower after reporting 2025 earnings that missed market expectations. Alfa Laval also declined after posting a sequential drop in fourth-quarter margins.
Shares in Publicis Groupe (EU:PUB) slid sharply after the company reported a full-year profit that was lower than the prior year. Akzo Nobel (EU:AKZA) also came under pressure after adjusted EBITDA fell in the fourth quarter amid weak revenue performance.
In London, AstraZeneca (LSE:AZN) shares dropped after the U.S. Food and Drug Administration rejected a subcutaneous version of its lupus treatment, which would have simplified administration.
On the upside, Amundi (EU:AMUN) rallied after reporting stronger-than-expected fourth-quarter net inflows, as clients sought greater diversification within Europe and away from the U.S. dollar.
Meanwhile, Nordex (TG:NDX1) advanced after announcing it had secured a 189MW order from OX2 to supply turbines for the Fagerasen wind farm project in Sweden.
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