This was CNBC's live blog covering European markets.

European markets closed lower Tuesday as investors look ahead to more key economic data this week, including U.S. inflation figures out Wednesday.

The Stoxx 600 index closed down 0.6%, with the majority of sectors in negative territory following solid gains on Monday. Insurance stocks led losses, falling 1.4%, while mining stocks rose 1.3%.

BP shares rose to their highest level since October after the oil major said it expected higher upstream production in oil and gas in the first quarter. Struggling French IT consultancy Atos rose 5% before tumbling to a 14% loss after detailing its refinancing framework.

Markets continue to see a roughly 50% chance of a cut in June, according to CME's FedWatch tool, although Minneapolis Fed President Neel Kashkari last week raised the possibility of zero rate cuts this year if inflation remains sticky.

U.S. stocks pulled back on Tuesday, while Asia-Pacific markets were mixed overnight as investors awaited consumer confidence data from Japan.

U.S. stocks open higher

U.S. stocks opened higher Tuesday, as markets regained momentum ahead of the release of key U.S. inflation data.

The Dow Jones Industrial Average rose 0.2% in early deals, while the S&P 500 gained 0.4%. The tech-heavy Nasdaq Composite also added 0.6%.

British pound climbs ahead of GDP data

The British pound strengthened against the U.S. dollar and the euro on Tuesday ahead of a series of big announcements.

Over the coming days, the U.S. will release inflation data on Wednesday, the European Central Bank will hold its monetary policy meeting on Thursday, and the U.K. monthly gross domestic product figures will be out on Friday. Economists will be looking for signs of a rebound in the British economy, which recorded 0.2% growth in January, after slipping into a shallow recession in 2023.

Sterling was up 0.2% against the greenback at $1.267 at 12:40 p.m. in London. The currency was 0.17% higher against the euro at 1.167.

— Jenni Reid

Schneider Electric: Sustainability is good business

Gwenaelle Avice Huet, executive vice president of Europe operations at Schneider Electric, discusses climate priorities and the push for sustainability.

Silver may be even more exciting than the gold rally, says BNP Paribas Wealth Management

Edmund Shing, chief investment officer at BNP Paribas Wealth Management, discusses the outlook for gold and silver prices.

HSBC to sell Argentina business for $550 million, will take $1 billion pre-tax hit

HSBC said Tuesday it will sell its Argentine banking operations to Grupo Financiero Galicia in a deal worth $550 million. It will report a $1 billion pre-tax loss on the sale in the first quarter of 2024.

The bank said this will not have a tangible impact on its common equity tier 1 ratio — a measure of a bank's financial strength —and will be excluded from its dividend payout calculation.

The deal is set to close within the next 12 months.

HSBC Group Chief Executive Noel Quinn said it would allow the company to focus on "higher value opportunities" internationally.

"HSBC Argentina is largely a domestically focused business, with limited connectivity to the rest of our international network. Furthermore, given its size, it also generates substantial earnings volatility for the Group when its results are translated into US dollars. Galicia is better placed to invest in and grow the business," Quinn said in a statement.

"We remain committed to Mexico and the US, and to serving our international clients throughout our global network with our leading transaction banking capabilities."

HSBC shares were 0.16% higher at 9:11 a.m. in London.

— Jenni Reid

Shell to consider all listing options

Oil major Shell is considering all listing options, including possibly moving its listing from London to New York, the company's CEO Wael Sawan said in a Bloomberg Opinion piece.

A Shell spokesperson confirmed the quotes to CNBC on Monday, adding that they do not reflect a change in the company's position which remains focused on "delivering more value with less emissions," reducing operating costs and providing better shareholder returns.

These and other factors should help close the "valuation gap," the spokesperson said, adding that the company will consider exploring other options if that is not achieved beyond 2025.

Shell is one of the largest companies listed on the London Stock Exchange, which has been chasing fresh listings to revitalize London's appeal as a financial hub. Shell shares were up 0.68% at 08:48 a.m. London time.

— Ruxandra Iordache

BP up 1.3% after flagging higher production in first quarter

BP shares rose 1.3% in early trade, hitting the highest level since October after the oil major said it expects higher upstream production in the first quarter across oil and gas.

In a trading update Tuesday, the company also said it expected "strong" results in oil and gas trading, but adverse impacts from gas and low carbon energy realizations and from the devaluation of the Egyptian pound.

— Jenni Reid

Europe stocks open lower

European stocks were slightly lower early Tuesday, with the pan-European Stoxx 600 index down by 0.15% at 8:20 a.m. in London.

Major bourses were in the red, with Germany's DAX down 0.4% and France's CAC 40 lower by 0.25%. The U.K.'s FTSE 100 nudged 0.08% lower.

— Jenni Reid

Troubled Atos outlines refinancing plan

Distressed French IT consultancy Atos on Tuesday announced a series of requirements as it restructures its debt, including 600 million euros ($651 million) in cash to fund operations over the next two years.

This will be raised through debt and equity from existing stakeholders or third-party investors, it said.

It is targeting a BB credit profile by 2026, and its remaining debt maturities have been extended by five years.

The company is set to run cybersecurity operations at the Paris Olympics and also has contracts with the French secret service. French authorities have already said they will protect the firm's strategic assets after a series of setbacks.

Atos shares climbed 19% Monday after leading shareholder Onepoint said Paris-based investment firm Butler Industries was joining its rescue consortium.

— Jenni Reid

CNBC Pro: Data centers are set for an AI-fueled boost, UBS says — naming 3 stocks to play the trend

The data center sector is poised for fast growth in the years ahead, according to UBS.

The investment bank predicts the data center sector will grow between 15% and 20% in 2024 and 2025, and "healthy" double-digit growth in the following years.

It names three related stocks to play the trend.

CNBC Pro subscribers can read more here.

— Weizhen Tan

CNBC Pro: This AI stock could fall 50% and has an 'exaggerated artificial intelligence narrative,' Morningstar says

A global chip stock has risen significantly this year driven by what Morningstar calls the "AI buzzword" narrative.

The research firm believes its current share price is overvalued and could drop by 54%.

CNBC Pro subscribers can read more about the AI stock here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are set to open lower Tuesday.

The U.K.'s FTSE 100 index is expected to open 6 points lower at 7,936, Germany's DAX down 49 points at 18,263, France's CAC 17 points lower at 8,103 and Italy's FTSE MIB down 77 points at 33,609, according to data from IG. 

Data releases include Ukrainian inflation figures for March.

— Holly Ellyatt