This was CNBC's live blog covering European markets.
European stocks closed lower on Tuesday as investors monitored corporate earnings, German politics, and shifting U.S. trade policy.
The pan-European Stoxx Europe 600 index closed 0.18% lower, ending a run of 10 sessions in the green. Sectors were mixed, with healthcare stocks down 1.09% as oil and gas rose 0.92%.
The U.K.'s FTSE 100 index ended 0.01% higher, nudging into positive territory late in the session to extend the record set Friday for its longest-ever streak of daily gains. London markets were closed on Monday.
Germany's DAX index was down 0.4%, paring some losses after Friedrich Merz was elected as Germany's chancellor in a second-round parliamentary vote. Merz failed to secure the necessary support in a shock vote earlier in the day.
Elsewhere, Asia-Pacific markets were mixed on Tuesday as investors assessed trade developments between the U.S. and countries in the region, with a focus on Asian currencies that have been strengthening on the back of a declining dollar.
On Wall Street, stocks were lower as investors awaited the start of the Federal Reserve's first policy meeting since U.S. President Donald Trump announced "reciprocal" tariffs in early April.
- CNBC's Amala Balakrishner, Hakyung Kim contributed to this report
European stock markets closed lower on Tuesday, with the regional Stoxx 600 index falling 0.18% to snap a run of 10 sessions in the green.
Germany's DAX and France's CAC 40 both closed around 0.4% lower. The U.K.'s FTSE 100 eked out a 0.01% gain to maintain its record-winning run.
Friedrich Merz was elected as Germany's chancellor in a second-round parliamentary vote, after failing to secure the necessary support earlier in the day.
Merz needed at least 316 of the 630 members of parliament to vote in his favor. He received 325 votes.
The United Kingdom and India struck a bilateral trade agreement, lowering tariffs on key exports such as U.K. whisky and cars, amid a global trade war initiated by the United States.
The deal will see India gradually lower taxes on imports from the U.K., with the vast majority of goods traded becoming "fully tariff-free within a decade," according to the British government.
Exports from the U.K., such as whisky and gin, will see tariffs halved from 150% to 75%, before reducing to 40% within a decade under the agreement. Meanwhile, many automotive tariffs will be cut sharply from over 100% to 10%, the government added.
Vestas CEO Henrik Andersen discusses the outlook for Europe's wind power industry and the impact of U.S. President Donald Trump's tariff policy.
Friedrich Merz failed to get the majority needed to become German chancellor in a parliamentary vote Tuesday.
Merz needed at least 316 votes to become chancellor and only 310 members of parliament voted in his favor.
The German Dax stock market index extended losses after the result to trade around 1% lower by 9:30 a.m. London time.
European stocks opened slightly higher, with most sectors and Britain's FTSE 100 index in positive territory.
The pan-European Stoxx Europe 600 index traded up 0.1% shortly after the opening bell, with oil and gas stocks among those leading the gains.
High-end German retailer Hugo Boss posted a lower-than-feared decline in first-quarter sales and reiterated its full-year guidance despite macroeconomic and tariff uncertainty.
Revenues fell 2% on a currency adjusted basis over the three month period to 999 million euros ($1.13 billion), slightly ahead of the 979 million euros forecast by analysts in an LSEG poll.
Weaker sales were led primarily by soft demand in the Asia-Pacific region, and specifically "ongoing subdued consumer demand in China," which the company attributed to a weaker consumer outlook.
"Following a strong finish to 2024, our performance in the first quarter of 2025 was affected by the rising macroeconomic uncertainty, which impacted global consumer sentiment and our industry," CEO Daniel Grieder said in a statement.
The group nevertheless confirmed its 2025 outlook, forecasting full-year sales to be in line with last year's at between 4.2 billion euros and 4.4 billion euros. It added that it is continuing to monitor the economic outlook, after Grieder noted in March that global trade tensions had already had a visible impact on first-quarter demand.
"We are closely monitoring macroeconomic developments and remain vigilant in light of the elevated uncertainties, including the current tariff discussions," he added.
U.S.-based DoorDash will acquire London-listed online food delivery firm Deliveroo in a £2.9 billion ($3.9 billion) deal.
The deal values Deliveroo shares at 180 pence a piece, 44% higher than its share price as of April 4, the last trading day before the bid.
"I could not be more excited by the prospect of what DoorDash and Deliveroo will be able to accomplish together. We'll cover more than 40 countries with a combined population of more than 1 billion people, enabling us to provide more local businesses with the tools and technology they need to thrive," said Tony Xu, CEO and Co-founder of DoorDash.
Online fashion retailer Zalando on Tuesday posted stronger-than-expected first-quarter sales and confirmed its full-year guidance.
Revenues for the three-month period ended March 31 came in at 2.42 billion euros ($2.74 billion), slightly above the 2.36 billion euros forecast by analysts in an LSEG poll. The retailer's number of active customers also rose to a new high of 52.4 million.
Zalando confirmed its full-year guidance despite what it said was "a fast-changing geopolitical and macro-economic environment," though it gave no direct mention of