Europe open: Shares lower on geopolitical tensions ahead of Putin speech
European shares opened lower on Tuesday as investors continued to fret about persistent inflation and geopolitical tensions.
The pan-European Stoxx 600 index was down 0.21% at 0815 GMT with all regional bourses in the red.
Britain's FTSE 100 paced the decline, despite unexpectedly recording a budget surplus in January as self-assessment income tax receipts surged, according to official data.
Investors were also eyeing developments in Ukraine ahead of a speech by Russian President Vladimir Putin as he sets aims for the second year of the illegal invasion of his neighbour, while US President, who made a surprise visit to Ukraine on Monday, was set to hold talks with Polish leaders on Tuesday and deliver a speech.
Tensions are rising in the region as China hinted that it could supply weapons to Moscow, sparking a warning of retaliation from the US administration.
In equity news, Smith & Nephew gained despite a fall in annual profits.
HSBC fell as quarterly profit surged 92% on rising global interest rates, but the bank was cautious on its outlook.
French energy company Engie was up 5% after reporting a sharp increase in 2022 profits driven by higher gas and power prices.
Global hotel chain operator IHG fell despite posting a rise in annual profits aided by higher room prices and announcing a $750m share buyback as travel continued to rebound from the Covid pandemic.
BHP shares fell as the Australian mining giant missed full year estimates.
Reporting by Frank Prenesti for Sharecast.com